Barclays settles civil lawsuits for US$ 325m
Barclays Settles Certain RMBS Securities Claims with the National Credit Union Administration (NCUA)
Barclays has issued a press release to inform investors reached a settlement with the NCUA to resolve two outstanding civil lawsuits for US$ 325m.
These lawsuits are part of the RMBS Securities Claims disclosed in Barclays 2015 Interim Results Announcement. As a result of this settlement, Barclays will include a provision of US$ 325m in its Q3 Interim Management Statement, to be announced on 29 October 2015.
The Group continues to litigate other RMBS Securities Claims and RMBS Repurchase Requests and to respond to requests from various regulatory and governmental authorities in relation to Mortgage-related investigations, all as disclosed in Barclays 2015 Interim Results Announcement.
Source: Barclays
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