Pursuits
Deutsche Bank to Pay $1.9 Billion to Settle Mortgage Suit
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Deutsche Bank AG will pay 1.4 billion euros ($1.9 billion) to settle claims that it didn’t provide adequate disclosure about mortgage-backed securities sold to Fannie Mae and Freddie Mac.
The agreement with the Federal Housing Finance Agency covering the period 2005 to 2007 resolves Deutsche Bank’s largest mortgage-related litigation case, the Frankfurt-based company said in a statement on its website today.