Deutsche Bank agrees $7.2bn penalty with US regulators
Germany's Deutsche Bank says it has agreed a $7.2bn settlement with US authorities over an investigation into mortgage-backed securities, the BBC reports.
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 pose a 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 as safe investments and selling the risk on to others. The probes related to deals done between 2005 and 2007.
Under the settlement, Deutsche's payment will be made up of a civil penalty of $3.1bn as well as $4.1bn in consumer relief that will help US homeowners.
Other banks which have been ordered to pay fines by the US Department of Justice include Citigroup which say its $12bn penalty reduced to $7bn.
In 2013, JP Morgan Chase was fined $13bn following allegations it overstated the quality of mortgages being sold to investors and in the following year, Bank of America paid $16.7bn to settle similar charges.
Goldman Sachs settled for $5.1bn in January this year.
Videos
Interview with Francis Malige, EBRD Managing Director
Armenians Commemorating 106th Anniversary of Genocide
Biden Under Pressure to Recognize Armenian Genocide - KTLA 5 News
Governance and Oversight Capacities Account for Our Bank's Robust Management System - Philip Lynch, Independent Board Member at Ameriabank
'Mr. President, It Is Now in Your Power to Right Decades of Denial' - US Congressman Adam Schiff Urges Joe Biden to Recognize Armenian Genocide
Armenians of Nagorno-Karabakh in Despair After Trauma of Military Defeat - France 24
Interview with Kakhaber Kiknavelidze, an Independent Member of Ameriabank Board of Directors
Only Terrorists Keep Hostages, Putting Forward Preconditions for Their Release - Edmon Marukyan
Rep Adam Schiff Says Congress Should Recognize Artsakh
UN's Guterres Issues Global Appeal to Make 2021 'Year of Healing'
NASA's Mars 2020 Perseverance Rover Landing Animations
Azerbaijan Uses Prohibited Phosphorus Chemical Munitions - Defense Army Video
Artsakh Defense Army Units Neutralizing Azerbaijani Arms Supplies
Artsakh Defense Army Units Neutralizing Azerbaijani Drone
Nagorno-Karabakh's Status Has Been At the Heart of Our Approach - Zohrab Mnatsakanyan
Artsakh Defense Army Releases Video Featuring Damaged Azerbaijani Military Equipment
Artsakh Defense Army Units Inflicting Manpower Losses on Azerbaijan
Gas Pipeline Damaged in Azerbaijani Fire Targeting Nagorno-Karabakh's Capital
President Armen Sarkissian Meets Emmanuel Macron at Élysée Palace
Artsakh Defense Army Neutralizes Azerbaijani Military Hardware
Artsakh Defense Army Units Neutralizing Azerbaijani Military Infrastructures
President Armen Sarkissian Meets with NATO Secretary-General in Brussels
Buildings and Homes Lying in Ruins in Nagorno-Karabakh's Capital After Azerbaijani Shelling
Artsakh Defense Army's Precision Fire Gives Deadly Blow to Enemy
Artsakh Defense Army Units Destroying Azerbaijani Tank
Zohrab Mnatsakanyan: Ceasefire Does not Mandate Azerbaijan to Kill Civilians and Hit Civilian Settlements
Armenians Protest Outside Turkrish Embassy in Los Angeles
Losses in Azerbaijan's Military Featured in Defense Army Footage
Artsakh Defense Army Neutralizing Adversary's Transport Column
Turkey openly backs Azerbaijan 'far more aggressively than in the past' - ABC News on Syrian mercenaries fighting in Karabakh
Iconic Armenian Church Hit in Azerbaijani Attacks in Nagorno-Karabakh City (photos)
Artsakh Defense Army Continues High-Precision Strikes
War Situation in Karabakh on European Parliament's Agenda
Call for Urgent Action: Armenian Journalist Brings Intn'l Colleagues' Attention to Situation iin Artsakh After Azerbaijani Attacks
Turkey's Support to Syrian Mercenaries Fighting Against Artsakh: Facts About Azerbaijani Aggression
Nagorno-Karabakh's Capital Under Azerbaijani Strikes
Armenian Armed Forces Neutralize Azerbaijani Defense Positions
ArmenianTroops Destroy Azerbaijani Armored Fighting Vehicle on Frontline
There is a solid evidence that Azerbaijan has launched a thoroughly planned attack on the NKR
EU calls for Immediate End to Hostilities over Nagorno-Karabakh
-
15:20 • 24.05.21
Interview with Francis Malige, EBRD Managing Director
-
11:39 • 24.04.21
Armenians Commemorating 106th Anniversary of Genocide
-
09:40 • 23.04.21
Biden Under Pressure to Recognize Armenian Genocide - KTLA 5 News
-
15:34 • 22.04.21
Governance and Oversight Capacities Account for Our Bank's Robust Management System - Philip Lynch, Independent Board Member at Ameriabank
-
14:09 • 21.04.21
'Mr. President, It Is Now in Your Power to Right Decades of Denial' - US Congressman Adam Schiff Urges Joe Biden to Recognize Armenian Genocide
-
12:37 • 03.04.21
Armenians of Nagorno-Karabakh in Despair After Trauma of Military Defeat - France 24
-
17:33 • 11.03.21
Interview with Kakhaber Kiknavelidze, an Independent Member of Ameriabank Board of Directors
-
17:57 • 26.01.21
Only Terrorists Keep Hostages, Putting Forward Preconditions for Their Release - Edmon Marukyan
-
13:33 • 22.01.21
Rep Adam Schiff Says Congress Should Recognize Artsakh
-
09:42 • 29.12.20
UN's Guterres Issues Global Appeal to Make 2021 'Year of Healing'
-
18:41 • 24.12.20
NASA's Mars 2020 Perseverance Rover Landing Animations
-
13:33 • 31.10.20
Azerbaijan Uses Prohibited Phosphorus Chemical Munitions - Defense Army Video
-
16:37 • 30.10.20
Artsakh Defense Army Units Neutralizing Azerbaijani Arms Supplies
-
11:25 • 28.10.20
Artsakh Defense Army Units Neutralizing Azerbaijani Drone
-
13:45 • 24.10.20
Nagorno-Karabakh's Status Has Been At the Heart of Our Approach - Zohrab Mnatsakanyan
-
11:51 • 24.10.20
Artsakh Defense Army Releases Video Featuring Damaged Azerbaijani Military Equipment
-
11:40 • 24.10.20
Artsakh Defense Army Units Inflicting Manpower Losses on Azerbaijan
-
10:39 • 24.10.20
Gas Pipeline Damaged in Azerbaijani Fire Targeting Nagorno-Karabakh's Capital
-
12:41 • 23.10.20
President Armen Sarkissian Meets Emmanuel Macron at Élysée Palace
-
12:16 • 23.10.20
Artsakh Defense Army Neutralizes Azerbaijani Military Hardware
-
12:02 • 22.10.20
Artsakh Defense Army Units Neutralizing Azerbaijani Military Infrastructures
-
10:35 • 22.10.20
President Armen Sarkissian Meets with NATO Secretary-General in Brussels
-
10:51 • 17.10.20
Buildings and Homes Lying in Ruins in Nagorno-Karabakh's Capital After Azerbaijani Shelling
-
15:09 • 15.10.20
Artsakh Defense Army's Precision Fire Gives Deadly Blow to Enemy
-
13:13 • 13.10.20
Artsakh Defense Army Units Destroying Azerbaijani Tank
-
12:56 • 12.10.20
Zohrab Mnatsakanyan: Ceasefire Does not Mandate Azerbaijan to Kill Civilians and Hit Civilian Settlements
-
12:23 • 12.10.20
Armenians Protest Outside Turkrish Embassy in Los Angeles
-
17:23 • 09.10.20
Losses in Azerbaijan's Military Featured in Defense Army Footage
-
15:53 • 09.10.20
Artsakh Defense Army Neutralizing Adversary's Transport Column
-
14:11 • 09.10.20
Turkey openly backs Azerbaijan 'far more aggressively than in the past' - ABC News on Syrian mercenaries fighting in Karabakh
-
15:52 • 08.10.20
Iconic Armenian Church Hit in Azerbaijani Attacks in Nagorno-Karabakh City (photos)
-
10:57 • 08.10.20
Artsakh Defense Army Continues High-Precision Strikes
-
14:24 • 07.10.20
War Situation in Karabakh on European Parliament's Agenda
-
19:31 • 05.10.20
Call for Urgent Action: Armenian Journalist Brings Intn'l Colleagues' Attention to Situation iin Artsakh After Azerbaijani Attacks
-
16:17 • 04.10.20
Turkey's Support to Syrian Mercenaries Fighting Against Artsakh: Facts About Azerbaijani Aggression
-
12:39 • 04.10.20
Nagorno-Karabakh's Capital Under Azerbaijani Strikes
-
13:49 • 03.10.20
Armenian Armed Forces Neutralize Azerbaijani Defense Positions
-
10:12 • 29.09.20
ArmenianTroops Destroy Azerbaijani Armored Fighting Vehicle on Frontline
-
23:42 • 28.09.20
There is a solid evidence that Azerbaijan has launched a thoroughly planned attack on the NKR
-
18:45 • 28.09.20
EU calls for Immediate End to Hostilities over Nagorno-Karabakh
Most popular articles Today Yesterday For a week
-
Science/tech 16:55 • 18/11 The Results of the 19th Annual International Microelectronics Olympiad Summarized in Yerevan This year's Olympiad was conducted in two stages, with 332 participants from 16 countries, including the UAE, USA, Brazil, Israel, Italy, Lebanon, Armenia, Jordan, Sri Lanka, Chile, Peru, Portugal, Russia, Serbia, Vietnam, and France. -
Event 11:07 • 19/11 “New Career Opportunities and Perspectives”: a career fair will be organized for people of Artsakh The main goal of the event is to support the socio-economic integration of Artsakh residents displaced by the conflict into Armenian society. It aims to enhance their competitiveness in the labor market and address employment challenges.
Economy
-
16:51 • 11.11.24 New features for Armeconombank’s Premium cardholders
-
12:16 • 08.11.24 Ucom and Sunchild NGO install another solar plant in Areni
Event
-
14:40 • 19.11.24 Ucom’s 5G network launched in 11 new cities
Science/tech
-
14:18 • 08.05.24 AstraZeneca withdrawing Covid vaccine worldwide
