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
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] »
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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] »){kind=link}
and this was worthy of being in TL …why? remind us again what purpose you serve ? This belongs in the Globe and Mail… we read Toronto Life not for this!
Hey Chuck,
It’s important to Toronto because they employ thousands of people here!
They sponsor major Toronto events (TIFF, etc) and if they are in trouble so is our city.
Hey Chuck, ask those thousands of RBC employees if they feel any loyalty from the RBC corporation. And as for those events that RBC backs, who cares!! there are many other organizations that will back these events in the small outside chance that RBC backs out. Maybe you would feel differently if your future were outsourced to foreign entities. This story is here to show you and others like you that you, Toronto and Canada or even the law mean nothing to this Corporation.
This has everything to do with Toronto Life, moron!!!