The Royal Bank of Scotland says it will vigorously defend itself against claims by a US regulator that it misrepresented the quality of mortgages it sold.
The US Federal Housing Finance Agency has filed lawsuits against 17 banks, including Goldman Sachs, Barclays, Bank of America, Deutsche Bank, and HSBC, over mortgage-based investments.
Values plunged during the financial crisis and a bailout of mortgage firms cost US taxpayers billions of dollars, the BBC reports.
It's believed the banks are being sued for a sum in the tens of billions of dollars.
