- Kai Pfaffenbach/Reuters
NEW YORK – Deutsche Bank will settle with US regulators for $7.2 billion over financial crisis-era residential mortgage-backed securities.
The $7.2 billion figure was announced in December by the bank, and confirmed on Tuesday by the Department of Justice.
The settlement comes after months of wrangling between the bank and regulators. The original settlement was reported to be around $14 billion, which sent Deutsche Bank’s stock into a tail spin in September 2016.
After talk of a possible bailout from the German government, the bank eventually brought the settlement lower.
- Markets Insider