Royal Bank plays off a major lawsuit like it’s no big deal

Royal Bank plays off a major lawsuit like it’s no big deal

(Image: Ian Muttoo) 

The way the Royal Bank of Canada is acting, you’d think the seriously massive lawsuit brought against it by a U.S. regulator is nothing to worry about. Just after news of the lawsuit broke earlier this week, the bank put the finishing touches on a $1.1 billion deal to buy the remaining half of a joint venture called RBC Dexia Investor Services. Then, yesterday, RBC’s lawyer said it would reject a settlement with the Washington-based Commodity Futures Trading Commission—and may already have done so, according to the Toronto Star—suggesting that the bank’s top brass is pretty confident they’ve done nothing wrong. Or that they have really good lawyers. Read the entire story [Toronto Star] »