RBS to pay $150m for US charges

A unit of the Royal Bank of Scotland agreed to pay more than $150m (£93m) to settle civil charges alleging it misled investors in a financial crisis-era subprime mortgage product, US regulators said yesterday. The Securities and Exchange Commission said the money it will collect from RBS Securities would go toward compensating harmed investors. In a statement, the company said it “cooperated fully” with the SEC.