Deutsche Bank agrees to pay $7.2bn to settle DoJ probe
Deutsche Bank has agreed to pay $7.2bn to resolve the Department of Justice’s probe into the alleged mis-selling of mortgage securities – about half the sum authorities that had originally claimed.
After months of talks with the US authorities, the German bank said early on Friday it had agreed “in principle” to pay a $3.1bn civil penalty and also provide $4.1bn in relief to consumers. The figure compares with the Justice Department’s opening request of $14bn.