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Deutsche Bank agrees to US$7.2b mortgage settlement with US
The bank will pay a civil monetary penalty of US$3.1b and provide US$4.1b in consumer relief, such as loan forgiveness
Add BT as a preferred sourcePublished Fri, Dec 23, 2016 · 09:50 PM
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New York
DEUTSCHE Bank has agreed to a US$7.2 billion settlement with the US Department of Justice over its sale and pooling of toxic mortgage securities in the run-up to the 2008 financial crisis.
The agreement in principle, announced by Deutsche Bank's Frankfurt headquarters early on Friday morning, offers some relief to the German lender, whose stock was hit hard in September after it acknowledged that the Justice Department had been seeking nearly twice as much.
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