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December 27, 2016 at 1:00 pm

Banks Pay $12.5B to End Probe into Sales of Toxic Debt…

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Deutsche Bank AG and Credit Suisse Group AG agreed to pay a combined $12.5 billion to resolve U.S. investigations into sales of the toxic debt that fueled the financial crisis…Deutsche Bank will pay $7.2 billion and take a $1.2 billion pretax charge this quarter, while Credit Suisse agreed to a $5.3 billion deal and will recognize a $2 billion hit to earnings…

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