Deutsche Bank Finalizes $7.2 Billion Settlement
Deutsche Bank confirms that it has agreed to a massive settlement over its sale of toxic U.S. mortgage securities during the housing bubble.
Deutsche Bank (DB) - Get Report has finalized a $7.2 billion legal settlement. It agreed to the massive settlement over its sale of toxic U.S. mortgage securities during the housing bubble.
The bank confirmed that the deal will be made up of $3.1 billion in penalties and $4.1 billion in customer relief. It cautioned that it would also take a pretax charge of $1.17 billion in its fourth-quarter results. Deutsche Bank set aside €5.9 billion for litigation reserves in September 2016. Deutsche Bank shares were little changed by the news.
