Home » General World News » Donald Trump and Christmas help banks to a settlement with the US over mortgages

Donald Trump and Christmas help banks to a settlement with the US over mortgages





Deutsche Bank

Christmas started two days early at Deutsche Bank.

Germany’s biggest lender managed to finalise the details of its settlement with the US Department of Justice – a legacy of the 2008 financial crisis and one of the biggest liabilities for the bank and shareholders alike.

Even better, it did so for half price.

Deutsche Bank settled for $7 billion, of which $3.1 billion is payable in cash and the rest in the form of customer redress for its issuance and underwriting of residential mortgage-backed securities in the lead up to the 2008 crisis.

That is just half the $14 billion figure that read more >>>

Source:: BusinessInsider.Com

Comments are closed.