New York Attorney General Letitia James announced Monday that her office has reached settlements with Deutsche Bank National Trust Company and U.S. Bank National Association, securing $90,000 in penalties and restoring 12 Brooklyn apartments to rent-stabilized status after investigations found the banks failed to comply with New York’s rent stabilization laws.
The settlements are the first obtained through the attorney general’s de facto rent stabilization compliance program, which was launched in May 2025 to enforce rent stabilization requirements in New York City buildings that courts or state housing officials have determined are subject to those protections.
Under the agreements, Deutsche Bank will pay $42,000 and register four apartments as rent stabilized, while U.S. Bank will pay $48,000, register eight apartments as rent stabilized, and face additional civil penalties related to registration violations with the city’s Department of Housing Preservation and Development…