Md. To Receive $95M In Deutsche Bank Crisis Settlement: AG
Law360, New York (June 2, 2017, 8:08 PM EDT) -- Maryland's attorney general said Thursday that Deutsche Bank would pay $95 million to resolve claims that it misled buyers of mortgage-backed bonds about the risky nature of the investments in the lead-up to the financial crisis.
A spokeswoman for Brian Frosh, the state's top law enforcement officer, said Friday that the settlement involves $80 million in consumer relief from a deal the bank struck with federal prosecutors earlier this year and $15 million in new money for state and local governments.
The settlement resolves state law claims against the bank for its role in the creation and sale of residential mortgage-backed...
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