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The MReport Webcast: Tuesday 1/19/2016

Last week’s settlement between Goldman Sachs and several regulators, including the U.S. Department of Justice, for 5 billion dollars to resolve claims of RMBS fraud has fueled speculation among analysts that the Royal Bank of Scotland will reach a settlement in the next few weeks to resolve claims.

FHFA sued RBS in the U.S. District Court in Connecticut over the selling of approximately 32 billion dollars’ worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac before the crisis. FHFA claims that the GSEs relied on false and misleading statements made by RBS when purchasing the mortgage-backed securities, causing the Enterprises to suffer massive losses.

It's so easy to forget that credit unions are dealing with the same regulatory and compliance issues that traditional lenders are facing. Mission Federal Credit Union executive shared sheds some light on some of the largest issues that credit unions face on a day-to-day and how they are overcoming them.

 

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.
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