deutsche bank teaserDeutsche Bank nearing settlement with U.S. authorities on mortgages: sources

 

This is a reuters.com article.

 

Deutsche Bank (DBKGn.DE) is nearing a settlement with U.S. authorities on past misspelling of mortgage-backed securities, two people close to the matter said.

The case is of many over the past decade which have tarnished the reputation of the banking sector and cost banks billions in fines.

While the price for the Deutsche settlement has not yet been decided, the payment “will not overburden” the bank, one of the people said.

German monthly manager magazine earlier reported that Deutsche Bank is expected to receive a demand for more than $2.4 billion from U.S. authorities in settlement of an investigation into past misspelling of mortgage-backed securities.

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