Nomura, RBS Ordered to Pay $806 Million to Housing Agency

Nomura Holdings Inc. and Royal Bank of Scotland Group Plc were ordered to pay $806 million in damages to government-owned mortgage companies over misleading securities pitches (Fed. Hous. Fin. Agency v. Nomura Holding America Inc., S.D.N.Y., 11-cv-06201, 5/15/15).

Judge Denise Cote of the U.S. District Court for the Southern District of New York May 15 ordered the banks to pay the full amount requested by the Federal Housing Finance Agency. Cote earlier found the banks liable for “enormous” deception in the sale of mortgage-backed securities.

FHFA has reached $17.9 billion in settlements with other banks, including Bank ...