Investing.com - (DE:Deutsche Bank) said Friday it has agreed a $7.2 bn settlement of its U.S. mortgage-linked case.
German Bank agrees penalty of $3.1 bn in sale of mortgage-backed securities with the U.S. Department of Justice.
To also provide a further $4.1 bn in consumer relief in U.S. in form of aid to homeowners, borrowers.
DoJ had sought a settlement of $14 bn.
Deutsche Bank said it would take a pretax charge of $1.17 bn in Q4 earnings to cover the penalty.
It said the settlement is not expected to have a "material impact" on 2016 financial results.
(SIX:Credit Suisse) also settled a separate mortgage-linked case with DoJ with payment of $5.3 bn.