Connecticut’s attorney general reached a record settlement $120 million settlement with RBS Securities Inc. over its underwriting of faulty residential mortgage-backed securities in the lead-up to the 2008 financial crisis, MorningConsult.com reported yesterday. “RBS was one of the key players in the RMBS business in the lead up to the financial crisis, underwriting $250 billion in securities that have to date suffered more than $40 billion in losses,” Attorney General George Jepsen said yesterday. The Department of Banking will receive $250,000 of those funds, and the remaining $119.75 million will be sent to Connecticut’s general funds.
