Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration (NCUA) said on Tuesday. The settlement with RBS brings the U.S. regulator's recoveries against various banks to $4.3 billion in lawsuits over their sale of mortgage-backed securities before the 2008 financial crisis.
By Ann Saphir SAN FRANCISCO (Reuters) - The Federal Reserve can raise interest rates without threatening the U.S. economic recovery, a top Federal Reserve policymaker said on Tuesday, saying the central bank risks doing more harm by continued inaction. "It is getting harder and harder to justify interest rates being so incredibly low given where the U.S. economy is and where it is going," San Francisco Federal Reserve Bank President John Williams said in an interview at his bank's headquarters. "I would support an interest rate increase," he said.
By Mark Hosenball WASHINGTON (Reuters) - The FBI is investigating suspected attempts to hack mobile phones used by Democratic Party officials as recently as the past month, four people with direct knowledge of the attack and the investigation told Reuters. The revelation underscores the widening scope of the U.S. criminal inquiry into cyber attacks on Democratic Party organizations, including the presidential campaign of its candidate, former U.S. Secretary of State Hillary Clinton. U.S. officials have said they believe those attacks were orchestrated by hackers backed by the Russian government, possibly to disrupt the Nov. 8 election in which Clinton faces Republican Party candidate Donald Trump.