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Royal Bank of Scotland to Pay $52 Million Fine to State of Massachusetts

Financial News Network
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December 01, 2011 AT 3:43 AM
The Telegraph reported, the Royal Bank of Scotland (NYSE:RBS) will pay a $52 million to the state of Massachusetts to settle allegations it resold mortgage loans knowing they could not be repaid.The bank did not admit any wrongdoing. The state's settlement with RBS follows similar agreements with Goldman Sachs (NYSE:GS), and Morgan Stanley (NYSE:MS)Royal Bank of Scotland is currently below its 50-day moving average (MA) of $7.25 and below its 200-day MA of $10.91.