Deutsche Bank finalizes $7.2B settlement

Deutsche Bank has finalized a $7.2 billion settlement with the U.S. Department of Justice.

The settlement resolves claims that Deutsche Bank sold toxic mortgage-backed securities in the years before the market meltdown of 2008.

The settlement includes a $3.1 billion civil penalty. The remaining $4.1 billion is earmarked for "relief to underwater homeowners, distressed borrowers and affected communities," DOJ officials said in a statement.

According to CNNMoney, the $4.1 billion includes issuing loan forgiveness and forbearance and providing funding for affordable housing across the United States.

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