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UK regulator hits Deutsche Bank lender with huge fine for subprime mortgages

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UK regulator hits Deutsche Bank lender with huge fine for subprime mortgages

U.K. regulator, the Financial Services Authority, announced Tuesday that it fined Deutsche Bank subsidiary, DB Mortgages, £840,000 (.35 million) for its subprime mortgage lending business practices. It is the first time the regulator charged a mortgage lender in the U.K. for irresponsible lending specifically in the subprime sector. Further, the FSA is securing £1.5...
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