Items Tagged with 'Deutsche Bank'

ARTICLES

  • Fed fails one bank in second round of stress tests

    Two others met with conditional approval
    During the second round of the 2018 annual stress tests, the Federal Reserve objected to one bank’s capital plan but passed the other 34 largest banks. In addition to failing one bank, the Fed also gave conditional approval to Goldman Sachs and Morgan Stanley after recent tax reform laws reduced their capital.
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  • Former Deutsche Bank head subprime mortgage bond trader fires back at U.S. fraud charges

    Denies all charges, accuses government of ‘concocting a baseless theory of fraud’
    Paul Mangione, the former head of subprime mortgage trading at Deutsche Bank who stands accused over overseeing systemic mortgage bond fraud during the run-up to the financial crisis, says that the government kowtowed to public pressure to see individuals held responsible for the financial crisis by filing lawsuit against him that is wrong, unfair, and without merit.
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  • Shocker: U.S. sues former Deutsche Bank head subprime mortgage bond trader for crisis-era fraud

    Paul Mangione accused of ‘systematically, intentionally’ lying about subprime mortgages
    In what can only be regarded as a shocking development, the United States is suing the former head of subprime mortgage trading at Deutsche Bank over “systematically and intentionally” lying about the quality of subprime mortgages that backed nearly $1.5 billion in mortgage-backed securities in the run-up to the crisis.
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  • Deutsche Bank reaches $95 million RMBS settlement with Maryland

    Settlement over crisis-era mortgage bonds is related to $7.2 billion DOJ agreement
    The state of Maryland announced last week that it reached a $95 million settlement with Deutsche Bank over claims that Deutsche Bank misled investors about its securitization and sale of residential mortgage-backed securities and collateralized debt obligations during the run-up to the financial crisis.
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  • Deutsche Bank looks at other options to fulfill consumer relief settlement requirements

    Works to fulfill $4.1 billion requirement
    Deutsche Bank AG is considering options to fulfill its $4.1 billion requirement to provide consumer relief to borrowers as part of a larger legal settlement. As it stands, the bank is struggling to find enough soured U.S. mortgage debt to satisfy the obligation. Here’s the alternative method the bank is looking at.
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  • Deutsche Bank, RBS, Wells Fargo settle for $165 million over NovaStar mortgages

    Union pension funds to receive payment in class action suit
    Deutsche Bank, Royal Bank of Scotland, and Wells Fargo reached a $165 million settlement in class action lawsuit brought by pension funds over faulty crisis-era mortgages originated NovaStar Mortgage, the plaintiffs' attorneys announced on Wednesday. If approved by judge, the settlement would bring a nine-year legal battle to a close.
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  • It's official: Deutsche Bank reaches $7.2 billion RMBS settlement

    Largest RMBS settlement ever
    Late last year, Deutsche Bank announced that it reached a $7.2 billion settlement with the Department of Justice in connection with the bank’s issuance and underwriting of residential mortgage-backed securities between 2005 and 2007. Although the bank made the announcement in late December, the settlement was not official, but it is now.
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  • Deutsche Bank considering loans to private equity as part of $4.1 billion in consumer relief

    Reportedly discussing loans to Lone Star Funds, others
    Recently, Deutsche Bank announced that it reached a settlement with the Department of Justice over the bank’s issuance and underwriting of residential mortgage-backed securities between 2005 and 2007. As part of the settlement, Deutsche Bank will be required to provide $4.1 billion in consumer relief. But a new report suggests that Deutsche Bank is considering an unorthodox method of providing that $4.1 billion in consumer relief – lending to private equity firms.
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  • What happened to all that mortgage settlement money?

    New York Times' Dealbook provides look at 8 massive mortgage settlements
    While the headlines don’t show up quite as often as they once did, it still seems like that every few weeks another bank is settling with the federal government (or other parties) over the mortgage misdeeds of the past. Each of those settlements checks in the multi-billion dollar range, but what happens to the settlement money after the banks pay up?
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