securities rmbs: The DoJ had earlier sought a settlement about twice as big, according to Deutsche Welle. It is the DoJ's first accord with a European bank over misconduct that contributed to the US housing-market collapse. The bank's shares rose 4 percent in early trading on Friday on news of the settlement. The department has faced criticism for its perceived failure to hold senior executives to account following the financial crisis. The agreement should resolve a years-long US investigation into the German lender's dealings in residential mortgage-backed securities RMBS and other activities during 2005 to 2007 - removing a major legal hurdle for the bank. No major figures have suffered criminal conviction.
(news.financializer.com). As
reported in the news.
Tagged under securities rmbs, european bank topics.