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Deutsche and Credit Suisse pay billions over mortgage backed securities

Deutsche Bank has paid $7.2bn (£5.9bn) to US authorities to settle an investigation into mortgage-backed securities.

The US had asked the bank to pay $14bn in September, but has now struck a deal with the bank that some predicted could present a threat to the global financial system if it was forced to pay the full amount of fines.


$4.1bn of the settlement will take the form of consumer relief to help US homeowners.

Deutsche’s share price rose nearly 4 per cent in early trading.

Other banks also faced continued regulatory activity over mortgage-backed security sales last night, as Credit Suisse agreed a $5.28bn settlement – $2.8bn to go back to consumers in the form of compensation – and Barclays will be the subject of a US Department of Justice lawsuit over allegations of mortgage securities fraud.

In a statement the DOJ says Barclays  “repeatedly misrepresented the characteristics of the loans backing securities they sold to investors throughout the world, who incurred billions of dollars in losses”.


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Ex-Deutsche Bank trader gets green light to sue FCA

A former Deutsche Bank trader has been told he can bring a civil case against the FCA despite facing trial over Libor manipulation. In April Deutsche Bank was fined a total of £1.7bn by international regulators rigging Libor and Euribor. Bloomberg reports Christian Bittar is suing the regulator over the final notice against Deutsche Bank, […]


FCA bans former Deutsche Bank trader over Libor fraud

The FCA has banned a former Deutsche Bank trader from the UK financial services industry following a criminal fraud conviction in the US. On 8 October 2015, Michael Curtler pleaded guilty before the United States District Court for the Southern District of New York for his role in a conspiracy to manipulate Deutsche Bank’s US […]


FCA fines Deutsche Bank a record £227m

Deutsche Bank has been fined a record £227m by the FCA for manipulating Libor and Euribor, and misleading the regulator. Combined with fines imposed by other regulators in the US, the total penalties amount to $2.5bn (£1.7bn). The fine is the largest to date for Libor- and Euribor-related misconduct. DB Group Services (UK) Limited, a […]

Building long-term relationships

Call us old fashioned, but we want to get to know you personally. That’s why we give you a named case manager and underwriter to look after all your cases from start to finish. Your underwriter will happily give you their number, so you can ring them directly with any questions you have. And your […]

Tackling the housing crisis will take more than money

The latest housebuilding figures from the Department for Communities & Local Government confirm the worst fears of many within the property industry. We are failing to address the housing shortage in any meaningful way. Let’s look at the number of housing ‘starts’, new housing projects where work has begun. In England, work has been started […]


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