Washington, DC – The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC), today announced a settlement for $99.5 million with RBS Securities, Inc. (RBS). The settlement resolves claims against RBS in FHFA v. Ally Financial Inc (NYSE:ALLY). in the Southern District of New York, alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities purchased by Fannie Mae and Freddie Mac during 2005-2007. A separate lawsuit involving RBS is not affected by this settlement, FHFA v. Royal Bank of Scotland Group plc (ADR) (NYSE:RBS) (LON:RBS).
This is the 15th settlement related to the 18 PLS lawsuits FHFA filed in 2011. FHFA remains committed to satisfactory resolution of the remaining actions. The list and amounts can be found below.
| PLS Litigation Settlements ? | |
| ?1. General Electric Company | $6.25 million |
| 2. CitiGroup Inc. | ?$250 million |
| ?3. UBS Americas, Inc. (Union Bank of Switzerland) | ?$885 million |
| ?4. J.P. Morgan Chase & Co. | ?$4 billion |
| ?5. Deutsche Bank AG | $1.925 billion |
| 6. Ally Financial, Inc. | $475 million |
| 7. Morgan Stanley | $1.25 billion |
| 8. SG Americas (Societe Generale) | $122 million |
| 9. Credit Suisse Holdings (USA) Inc. | $885 million |
| 10. Bank of America Corp. 11. Merrill Lynch & Co. 12. Countrywide Financial Corporation |
$5.83 billion |
| ?13. Barclays Bank PLC | $280 million |
| ?14. First Horizon National Corp. | ?$110 million |
| ?15. RBS Securities, Inc. (in Ally action) | ??$99.5 million |
| ???Non-Litigation PLS Settlements? | |
| ?Wells Fargo Bank, N.A. | ?$335.23 million |
| ?Remaining PLS Cases ? ? ? | |
| ?Southern District of New York Cases: ? | |
|
?Goldman Sachs & Co. ? HSBC North America Holdings, Inc. (Hong Kong Shanghai Banking Corp.) Nomura Holding America, Inc. [Ally Financial, Inc. (one non-Ally defendant remains in the case)] |
|
| ??District of Connecticut Case: | |
| The Royal Bank of Scotland Group, PLC ? |
Settlement agreement follows (c onfidential exhibit omitted).
