Sep
15
Deutsche Bank Rebuffs U.S. Over $14 Billion Mortgage Settlement
By-
Negotiations are ‘just beginning,’ lender says in statement
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U.S. shares of biggest German bank tumble in extended trading
Deutsche Bank AG said it won’t pay the $14 billion sought by the U.S. Justice Department to settle an investigation into the firm’s sale of residential mortgage-backed securities, a figure that’s more than triple what some analysts estimated could be a potential worst-case.
“Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited,” the company said in a statement early Friday in Frankfurt. “The negotiations are only just beginning. The bank expects that they will lead to an outcome similar to those of peer banks which have settled at materially lower amounts.”…
Deutsche Bank Rebuffs U.S. Over $14 Billion Mortgage Settlement
