Deutsche Bank Settles Mortgage Fraud Claims

The financial firm Deutsche Bank has agreed to pay the federal government more than $200 million to settle charges of fraudulent mortgage practices that cost taxpayers nearly twice that amount. According to the settlement, a Deutsche Bank subsidiary insured its home loans under a federal program despite not meeting the program’s requirements. The federal government was forced to pay when the mortgages later defaulted. In a statement, U.S. prosecutors with the Southern District of New York said the bank and its subsidiary had used federal insurance as "free government money to backstop lending practices that did not follow the rules."

See all headlines for this show

Recent Shows More

Full News Hour

Stories

    Bn2015-0730_funhome3
    Alison Bechdel’s "Fun Home": The Coming-Out Memoir That Became a Hit Broadway Musical
    In a Democracy Now! special, we look at the acclaimed Broadway musical "Fun Home," which swept the Tony Awards last month. Composer Jeanine Tesori and lyricist Lisa Kron made history as the first female duo to win a Tony Award for Best Original Score. "Fun Home" is also the first-ever Broadway musical to feature a lesbian protagonist. The musical is based on the 2006 best-selling graphic memoir by Alison Bechdel, "Fun Home: A Family Tragicomic." The memoir is a poignant exploration of family, memory, first love,...

Creative Commons License The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.