Deutsche Bank Reaches $7.2 Billion Settlement
Deutsche Bank says it's reached a tentative $7.2 billion settlement with the U.S. Department of Justice over toxic securities. The agreement resolves years of investigation into the company's sale and collection of toxic mortgage securities.
AFP reports the payment includes a $3.1 dollar fine and $4.1 billion in relief to American consumers. According to The New York Times the $4.1 billion will come in the form of loan modifications and other assistance to homeowners.
Deutsche Bank says the deal is not final.