CNBC-

Deutsche Bank agreed on Tuesday to pay $7.2 billion for misleading investors in its sale of residential mortgage-backed securities, among the largest resolutions of its kind.

The U.S. Justice Department said the settlement requires Germany’s largest lender to pay a $3.1 billion civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act.

It will also provide $4.1 billion in relief to underwater homeowners, distressed borrowers and affected communities.

The Justice Department said it is “one of the largest FIRREA penalties ever paid.”

[CNBC]