Deutsche Bank agrees $7.2bn penalty with US regulators

Germanys Deutsche Bank says it has agreed a $7.2bn (5.9bn) payment to US authorities over an investigation into mortgage-backed securities. The sum, which needs final approval, is far lower than the $14bn the US had asked the bank to pay in September. That looming fine had caused concerns that a failure of the bank could posea risk to the global financial system. The sale of residential mortgage-backed securities played a significant role in the 2008 financial crisis. Several banks in the US have been subject to investigations over allegations of giving mortgages to unqualified borrowers, then repackaging those loans asThe post Deutsche Bank agrees $7.2bn penalty with US regulators appeared first on Daily Times Nigerian Newspaper.
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