Deutsche Bank fined for irresponsible mortgage lending

A fine has been issued to Deutsche Bank for its poor mortgage practices that were unfair to thousands of customers who took out home loans. Compensation will be paid out to people who took up mortgages with Deutsche Bank. Deutsche Bank has been fined £840,000 for irresponsible mortgage lending during the two year period before the credit crunch hit the British economy. The move, made by the Financial Services Authority (FSA), means that Deutsche Bank is the first financial company in the UK to be issued a penalty for poor lending practices.