Deutsche Bank will settle with US regulators for $7.2 billion
Advertisement
Kai Pfaffenbach/Reuters
Advertisement
The $7.2 billion figure was announced in December by the bank, and confirmed on Tuesday by the Department of Justice.
The settlement comes after months of wrangling between the bank and regulators. The original settlement was reported to be around $14 billion, which sent Deutsche Bank's stock into a tail spin in September 2015.
After talk of a possible bail out from the German government, the bank eventually brought the settlement lower.
Following the announcement, shares of Deutsch Bank's US tracking stock bounced slightly. The stock is still trading down by 2.55% for the day, however, as of 2:50 p.m. ET.
Advertisement
Advertisement
- Love in the time of elections: Do politics spice up or spoil dating in India?
- Samsung Galaxy S24 Plus review – the best smartphone in the S24 lineup
- Household savings dip over Rs 9 lakh cr in 3 years to Rs 14.16 lakh cr in 2022-23
- Misleading ads: SC says public figures must act with responsibility while endorsing products
- Here’s what falling inside a black hole would look like, according to a NASA supercomputer simulation