Deutsche Bank settles to pay $7.2 billion over 2008 crisis
German-based Deutsche Bank has agreed to a $7.2 billion (over ₹48,800 crore) settlement with the US Department of Justice for mis-selling mortgage-backed securities. The malpractice by several leading banks was cited among the primary reasons for the 2008 financial crisis. Earlier, the Justice Department had demanded the bank to pay $14 billion (over ₹95,000 crore) as penalty for the same.