On March 29, 2018, officials announced that Barclays Capital, Inc. and several of its affiliates agreed to settle a civil action brought in December 2016 in relation to the underwriting and issuance of residential mortgage-backed securities (“RMBS”) between 2005 and 2007.  Barclays agreed to pay $2 billion in civil penalties in exchange for dismissal of the government’s amended complaint.  The complaint alleged that Barclays misled investors about the quality of underlying mortgage loans in 36 RMBS deals and caused billions of dollars in losses when these loans defaulted at high rates.  Pursuant to the settlement agreement, Barclays neither admitted nor denied these allegations.  United States v. Barclays Capital, Inc., 16-cv-07057 (S.D.N.Y.).

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