Royal Bank settles a case regarding Enron for $49 million USD. Of course, Royal Bank claims no liability or wrong doing. They are going aggressively fight the claim.
It just goes to show that our Canadian banks are investing all over the world. Even the Royal Bank which is a Canadian company is getting involved with corporations such as Enron.
Wouldn't it be interesting to know who else they're investing in. It's sad to see the profits they make from the consumer being invested in companies where they later have to pay fines. I'm sure at the time they invested, Royal Bank thought that Enron was a great investment. It's hard to see $49 million USD / or approx 61.5 Million CDN of monthly bank fees, or mortgage interest revenue being spent in the US on settlement amounts.
Is Royal Bank going to have to charge more interest to pay for legal fees?
