December 23, 2016 / 1:33 AM / a year ago

Deutsche Bank reaches settlement with DoJ on mortgages case

Dec 22 (Reuters) - Deutsche Bank said on Thursday that it had reached a settlement with the U.S. Department of Justice, relating to the banks issuance and underwriting of RMBS (residential mortgage-backed securities) and related activities between 2005 and 2007.

Under the terms of the settlement agreement, Deutsche Bank agreed to pay a civil monetary penalty of $3.1 billion and provide $4.1 billion in consumer relief in the United States.

Deutsche Bank said it expects to record pre-tax charges of about $1.17 billion in its fourth quarter because of the civil monetary penalty. (Reporting by Anya George Tharakan in Bengaluru; Editing by Sandra Maler)

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