Barclays settles US mortgage claims for $325m with National Credit Union

Lynsey Barber
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Barclays has agreed to pay $325m (£210m) to settle two civil lawsuits with the National Credit Union in the US relating to mortgages.

The bank will include the provision in its third-quarter results, due at the end of October.

The claims are related to residential mortgage backed securities (RMBS) sponsored or underwritten by the bank between 2005 and 2008, and there are still several ongoing investigations by other US authorities into the mortgages.

"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," the bank said in a regulatory update.