The NCUA said Monday it has reached settlements totaling $165.5 million with Citigroup and Deutsche Bank Securities over the sales of residential mortgage-backed securities to the five corporate credit unions that failed.
The settlements, in which the banks admitted no guilt, are for $20.5 million from Citigroup and $145 million from Deutsche Bank Securities. The agency reached the settlements without filing lawsuits against the banks.
"We are fulfilling our statutory responsibility to secure maximum recoveries for credit unions and ensure that consumers remain protected," said NCUA Board Chairman Debbie Matz.
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