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Credit Suisse and Deutsche Bank settle with DOJ over RMBS

First Published 23rd December 2016

Credit Suisse and Deutsche Bank agree $12 billion settlement In principle with U.S. Department of Justice regarding legacy residential mortgage-backed securities.

Credit Suisse and Deutsche Bank have agreed a $12 billion settlement with the U.S. Department of Justice regarding legacy residential mortgage-backed securities.

Credit Suisse will pay to the DOJ a civil monetary penalty of $2.48 billion. In addition, Credit Suisse would provide consumer relief totaling $2.8 billion over the course of five years post settlement.

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

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