Deutsche Bank and Credit Suisse Agree to Separate Settlements of RMBS Complaints; DOJ Sues Barclays
January 6, 2017
Two Wall Street banks have agreed to separate settlements with the Department of Justice to resolve civil claims related to their issuance and underwriting of nonprime residential MBS leading up to the financial crisis. Under the terms of the settlements, Credit Suisse and Deutsche Bank have agreed to pay the DOJ $2.48 billion and $3.1 billion, respectively, related to the securitization, underwriting and issuance of residential MBS prior to 2008. In addition, Credit Suisse ($2.8 billion) and Deutsche Bank ($4.1 billion) will provide...