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Deutsche Bank to settle US subprime case

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Berlin - Deutsche Bank has agreed to pay a total of $7.2bn to settle a case with the US Department of Justice over its role in the subprime mortgage crisis, the lender said in a statement Friday.

The payment includes a $3.1bn fine and $4.1bn in relief to consumers as part of an agreement in principle with US authorities, it said.

Deutsche has been negotiating the terms of the fine with the DoJ since September, when the US authority targeted it with a $14bn penalty.

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