Saturday, December 24, 2016

Deutsche Bank and Credit Suisse agree $12.5bn fines with US



Barclays holds out against settlement for toxic mortgage debts


Two of Europe’s largest lenders have become the Continent’s first banks to settle with US prosecutors over their role in selling toxic mortgage debts by agreeing to pay $12.5 billion in fines.



Deutsche Bank said yesterday that it would pay $7.2 billion to the Department of Justice after admitting responsibility in the mis-selling of sub-prime debts that it knew would collapse in value. Credit Suisse said that it had reached a $5.3 billion settlement.

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