Deutsche Bank, FHFA Agree To $1.9B Deal In RMBS Suit

Law360, Los Angeles (December 20, 2013, 9:10 PM EST) -- Deutsche Bank AG has agreed to pay $1.9 billion to resolve the Federal Housing Finance Agency's residential mortgage-backed securities suit in New York district court over alleged violations of federal and state securities laws, the parties announced separately on Friday.

The FHFA, as conservator for Fannie Mae and Freddie Mac, brought suits against more than a dozen financial institutions, including JPMorgan Chase & Co., UBS AG, Citigroup Inc. and Deutsche Bank, in 2011 alleging they made false statements related to the quality of home loans underlying...
To view the full article, register now.