Deutsche Bank Hit for $7.2 Billion for RMBS Issues
The Justice Department announced a $7.2 billion settlement with Deutsche Bank to resolve federal civil claims that Deutsche Bank misled investors in the packaging, securitization, marketing, sale and issuance of residential mortgage-backed securities (RMBS) between 2006 and 2007. This $7.2 billion agreement requires Deutsche Bank to pay a $3.1 billion civil penalty under FIRREA and $4.1 billion in relief to underwater homeowners, distressed borrowers and affected communities. [1/18/17]
