Royal Bank of Scotland Group agreed to pay $1.1 billion to settle the first of three major U.S. mortgage-backed securities probes the bank must overcome before it can resume dividend payments.

The accord between the British lender and the U.S. National Credit Union Administration closes 2011 lawsuits filed in California and Kansas on behalf of two corporate credit unions, the NCUA said in a news release Tuesday. The deal is among the largest in a series of settlements in which banks have paid hundreds of millions over accusations stemming from sales that contributed to the collapse of corporate credit unions after the 2008 financial crisis.

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