RBS to pay $44 million to settle fraud charges in US

The Royal Bank of Scotland has agreed to pay $44 million to settle a US criminal investigation that accused its traders of defrauding customers on bond prices. Barclays, Citigroup, Morgan Stanley and Goldman Sachs were among the victims of the fraud scheme. "For years, RBS fostered a culture of securities fraud," US Attorney Deirdre Daly said.