While an official settlement is not yet public, it’s rumored that the U.S. Justice Department proposed that Deutsche Bank AG pay $14 billion to settle a case that dates back to the financial crisis, according to an article in The Wall Street Journal.
According to an the article by Aruna Viswanatha, Jenny Strasburg and Eyk Henning:
The U.S. Justice Department proposed that Deutsche Bank AG pay $14 billion to settle a set of high-profile mortgage-securities probes stemming from the financial crisis, according to people familiar with the matter, a number that would rank among the largest of what other banks have paid to resolve similar claims and is well above what investors have been expecting.
However, nothing is set in stone yet.
It was only last week that news came out that Deutsche Bank AG was nearing a settlement deal with U.S. authorities, causing the bank’s shares to jump the most in two month, an article in Bloomberg by Jan-Henrik Foerster reported. This news also hinged on rumors, coming from a German Magazine that chose not to reveal its source.
Deutsche Bank also made headlines not too long ago, as JPMorgan Chase’s legal battle with the Federal Deposit Insurance Corp. and Deutsche Bank AG over its acquisition of Washington Mutual’s banking operations finally came to an end.