MOSCOW (Sputnik) – Deutsche Bank said on Thursday that it had started negotiations with the DOJ, seeking to settle civil claims that the department could consider in connection with the bank’s issuance and underwriting of residential mortgage-backed securities. The bank confirmed that the DOJ’s initial settlement proposal was $14 billion.
According to some sources, the Deutsche Bank already paid $1.9 billion in 2013 to settle some US claims related to mortgaged-backed securities.
Several major US banks have paid large settlements for allegedly providing misleading information to investors on the securities. In 2014, Bank of America Corp. paid $16.65 billion to settle such claims.