RBS Is Set to Overtake Deutsche Bank as Europe's Most Penalized
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Royal Bank of Scotland Group Plc may overtake Deutsche Bank AG as the European lender with the highest disclosed legal bills since the financial crisis.
RBS, which once ran one of the world’s largest securities firms, is set to pay a fine for misconduct by its investment bank. Its role in peddling mortgage-backed bonds that fueled the U.S. housing meltdown could cost RBS $4.9 billion, according to the terms of a tentative deal it reached with the U.S. Justice Department last week.