Donald Trump and Christmas help banks to a settlement with the US over mortgages
|12/23/2016||Posted by BusinessMediaguide.Com under General World News||
Christmas started two days early at Deutsche Bank.
Germany’s biggest lender managed to finalise the details of its settlement with the US Department of Justice – a legacy of the 2008 financial crisis and one of the biggest liabilities for the bank and shareholders alike.
Even better, it did so for half price.
Deutsche Bank settled for $7 billion, of which $3.1 billion is payable in cash and the rest in the form of customer redress for its issuance and underwriting of residential mortgage-backed securities in the lead up to the 2008 crisis.
That is just half the $14 billion figure that read more >>>