Deutsche Bank Settles Los Angeles Slumlord Allegations

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Deutsche Bank Settles Los Angeles Slumlord Allegations

Deutsche Bank Settles Los Angeles Slumlord Allegations

Deutsche Bank has to since we’re finding out that DB is ‘horribly undercapitalized’!

Business Week-

Deutsche Bank AG (DBK) settled a lawsuit brought by the city of Los Angeles accusing the bank of acting like a “slumlord” and letting foreclosed homes in low-income neighborhoods fall into disrepair.

The bank and the Los Angeles city attorney filed a joint notice of settlement yesterday in California state court. The two sides reached an agreement in principle and are in the process of completing the documentation, according to the filing.

Terms of the settlement of the two-year-old lawsuit, which also accused Deutsche Bank of illegally evicting tenants, weren’t disclosed in the filing.

[BUSINESS WEEK]

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