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.”
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