{"id":6090,"date":"2016-12-24T21:14:06","date_gmt":"2016-12-25T03:14:06","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1324"},"modified":"2022-05-17T14:25:49","modified_gmt":"2022-05-17T19:25:49","slug":"mortgage-fraud-settlements-reached-deutsche-bank-7-2b-credit-suisse-5-3b","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/mortgage-fraud-settlements-reached-deutsche-bank-7-2b-credit-suisse-5-3b\/","title":{"rendered":"Mortgage Fraud Settlements Reached With Deutsche Bank for $7.2B, Credit Suisse for $5.3B"},"content":{"rendered":"

\t\t\t\tThe US government has arrived at multibillion-dollar settlements with Credit Suisse Group AG (CS) and Deutsche Bank AG (DB) to settle allegations involving toxic securities. It also has filed a separate lawsuit against Barclays (BARC) over its alleged sales of toxic mortgage-backed securities.<\/p>\n

In the Deutsche Bank case, the US Justice Department had sought $14B to settle allegations that the bank sold investors toxic mortgage securities. Now, the German lender will have to pay $3.1B immediately. It has promised to pay $4.1B over five years to a US consumer relief fund. However, Deutsche Bank remains under investigation by US and UK regulator over suspect trades involving Russian stock, foreign exchange rate rigging, precious metal-related price violations, and alleged violations of US sanctions against number of countries, including Iran.<\/p>\n

In the settlement with Credit Suisse, the bank will pay a $2.48B penalty and $2.8B in relief to communities and homeowners impacted by the drop in home prices during the financial crisis. The consumer relief will be paid over five years.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US government has arrived at multibillion-dollar settlements with Credit Suisse Group AG (CS) and Deutsche Bank AG (DB) to settle allegations involving toxic securities. It also has filed a separate lawsuit against Barclays (BARC) over its alleged sales of toxic mortgage-backed securities. In the Deutsche Bank case, the US Justice Department had sought $14B […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3756,3817,3818,3752,4001,3757],"tags":[],"class_list":["post-6090","post","type-post","status-publish","format-standard","hentry","category-barclays-capital","category-credit-suisse","category-deutsche-bank","category-financial-firms","category-mortgage-fraud","category-mortgagebacked-securities"],"yoast_head":"\nMortgage Fraud Settlements Reached With Deutsche Bank for $7.2B, Credit Suisse for $5.3B — Investor Lawyers Blog — December 24, 2016<\/title>\n<meta name=\"description\" content=\"The US government has arrived at multibillion-dollar settlements with Credit Suisse Group AG (CS) and Deutsche Bank AG (DB) to settle allegations — December 24, 2016\" \/>\n<meta name=\"robots\" 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