Deutsche Bank Near Agreement With U.S. In $5.4 billion Deal To Settle Charges Over its Sale of Toxic Mortgage Bonds — Down From $14 Billion First Assessed
NEW YORK (AFP) – Deutsche Bank is near an agreement with US officials to pay $5.4 billion to settle charges over its sale of toxic mortgage bonds ahead of the financial crisis, a person familiar with the matter said Friday.
US Justice Department officials had earlier pressed Deutsche Bank to pay $14 billion to settle the case, an amount the German bank said was unacceptable and which raised concerns over its solvency.
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Tags: Deutsche Bank, European banks, German bank, German government, Merkel, Toxic Mortgage Bonds, US justice department