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(Adds no immediate comment from RBS, background on NCUArecoveries against other banks, details of lawsuit, byline, casecitation)
By Joseph Ax
NEW YORK, Sept 15 (Reuters) - Royal Bank of Scotland GroupPLC has agreed to pay $129.6 million to resolve claimsby a U.S. regulator that it sold toxic mortgage-backedsecurities to now-failed credit unions, according to a courtfiling on Tuesday.
The National Credit Union Administration filed a federallawsuit in New York in 2013 on behalf of two defunct creditunions, Southwest Corporate and Members United Corporate.
A spokesman for RBS did not immediately respond to a requestfor comment outside regular business hours.
The NCUA, which regulates, charters and supervises federalcredit unions, has brought several lawsuits against variousbanking defendants over securities sold to several credit unionsthat failed during the financial crisis.
The agency previously recovered more than $1.7 billion fromseveral banks, including JPMorgan Chase & Co, whichagreed to pay $1.4 billion in November 2013; Bank of AmericaCorp, Deutsche Bank AG ; Citigroup Inc ;and HSBC Holdings Plc.
In the RBS case, the NCUA claimed the bank systematicallyignored underwriting guidelines for the securities, which wererated triple-A at the time they were purchased by the creditunions for a total of more than $300 million in 2006 and 2007.
The credit unions were placed into conservatorship inSeptember 2010, according to the lawsuit.
The case is National Credit Union Administration Board v.RBS Securities Inc et al., U.S. District Court for the SouthernDistrict of New York, No. 13-6726. (Reporting by Joseph Ax; Additional reporting by Nate Raymond;Editing by Steve Orlofsky and Tom Brown)
