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Violation Tracker Individual Record

Company: RBS Financial Products Inc.
Current Parent Company: NatWest Group PLC
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Penalty: $1,750,000
Year: 2013
Date: November 19, 2013
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: mortgage abuses
Violation Description: RBS Financial agreed to pay over $1 million to settle litigation brought by home loan customers alleging they were not told that their interest rate would rise sharply after one month.
Level of Government: federal
Action Type: private litigation
Court: Northern District of California
Civil or Criminal Case: civil
Case ID: 3:07-cv-04496
Case Name: Jordan v. Paul Financial, LLC
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: government-owned
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.