Deutsche Bank Renegs On Pledge To Help Distressed Homeowners | WHAT REALLY HAPPENED


Deutsche Bank Renegs On Pledge To Help Distressed Homeowners

This ought to win Deutsche Bank some badly needed good will with global prosecutors investigating the bank for its involvement in various financial frauds - not to mention Financial Services Committee Chairwoman Maxine Waters.

According to a Bloomberg report on Friday, DB has decided - apparently with the blessing of a federally appointed monitor - that it won't pay out the $4 billion balance on its commitment to help distressed homeowners impacted by the housing collapse. The bank had agreed to spend billions of dollars on consumer relief during the waning days of the Obama administration as part of a massive settlement with the DOJ over its role in selling mortgages.

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