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Washington
FHFA Receives $1.9B in Deutsche Bank Settlement
WASHINGTON (12/23/13)--Deutsche Bank AG, related companies and specifically named individuals will pay $1.925 billion to the Federal Housing Finance Agency under a settlement announced Friday.

The settlement will resolve allegations that Deutsche Bank AG and others violated federal and state securities laws when they sold private-label mortgage-backed securities (MBS) to Fannie Mae and Freddie Mac between 2005 and 2007.

Freddie Mac will receive $1.63 billion of the settlement and Fannie Mae will receive $300 million. The settlement will release Deutsche Bank from certain claims tied to the securities sales, but will not impact claims related to alleged LIBOR manipulation nor claims made in two other suits: FHFA v. SC Americas, Inc., et. al., and FHFA v. Countrywide Financial Corp., et. al.

This is the sixth MBS settlement FHFA has reached. The National Credit Union Administration is not involved in this settlement.

For more on the settlement, use the resource link.
Other Resources

FHFA Release
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