Deutsche Bank to fight US $14billion claim

‘Germany’s largest lender Deutsche Bank says it will challenge a $14 billion claim by the US Department of Justice to settle an investigation into its sale of mortgage-backed securities.
“Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited. 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 said in a statement on Friday.
No details about the case have been publicized. Yet, reports say the sales of mortgage securities before the 2008 financial crisis lie at the heart of the case.’
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