Deutsche Bank SA has become the latest bank to reach a mega-settlement with the Federal Housing Finance Agency, the conservator for Fannie Mae and Freddie Mac.
As part of a settlement agreement made public Friday, Deutsche Bank will pay $1.9 billion to settle claims that the bank and three individuals didn’t make adequate disclosures about mortgage-backed securities it sold to Fannie and Freddie before the financial crisis. This deal marks the fourth settlement that the FHFA and its lawyers led by Philippe Selendy at Quinn Emanuel Urquhart & Sullivan have reached since the agency sued 18 banks in 2011. To date, these settlements total more than $8 billion.
