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Barclays has agreed to pay bn (£1.4bn) to settle a US civil action related to the mis-selling of residential mortgage-backed securities in the run-up to the financial crisis.
Two former Barclays executives also agreed to pay m to resolve claims brought against them, the US Department of Justice said on Thursday.
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“The substantial penalty Barclays and its executives have agreed to pay is an important step in recognising the harm that was caused to the national economy and to investors in residential mortgage-backed securities.” Jes Staley, Barclays’ chief executive, said the bank was “pleased that we have been able to reach a fair and proportionate settlement”.
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