British bank Barclays said it will pay $325 million in a settlement with the U.S. National Credit Union Association (NCUA) to resolve two civil lawsuits related to U.S. residential mortgages.
Barclays said on Monday it will include a provision for the amount in its third-quarter results. The NCUA is an independent federal agency that regulates and supervises credit unions.
Several banks have paid big settlements to resolve issues related to U.S. residential mortgage-backed securities (RMBS) litigation, and Barclays said its settlement related to lawsuits disclosed in its half-year results.
"The group continues to litigate other RMBS securities claims and RMBS repurchase requests and to respond to requests from various regulatory and governmental authorities in relation to mortgage-related investigations, all as disclosed in Barclays 2015 interim results announcement," the bank said.