A foreign banking organization agreed to pay $4.9 billion to resolve DOJ claims related to the underwriting and issuance of residential mortgage-backed securities between 2005 and 2008. The bank agreed to cooperate with authorities. The agreement states that "the Settlement Amount is a civil monetary penalty recovered pursuant to the Financial Institutions, Reform, Recovery and Enforcement Act of 1989 ("FIRREA")." The bank made no admission of liability in connection with the settlement.
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