U.S. Dept of Justice Asks Deutsche Bank to Pay $14 Billion Mortgage Settlement, Bank Says No

deutscheNewLogo

Deutsche Bank Rebuffs U.S. Over $14 Billion Mortgage Settlement

Deutsche Bank AG said it won’t pay the $14 billion sought by the U.S. Justice Department to settle an investigation into the firm’s sale of residential mortgage-backed securities, a figure that’s more than triple what some analysts estimated could be a potential worst-case.

“Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited,” the company said in a statement early Friday in Frankfurt. “The negotiations are only just beginning. The bank expects that they will lead to an outcome similar to those of peer banks which have settled at materially lower amounts.”

Germany’s largest lender confirmed that it had started negotiations with the Justice Department to settle civil claims the U.S. may consider over the bank’s issuing and underwriting of residential mortgage-backed securities from 2005 to 2007. The $14 billion is considered an “opening bid” that could go “much lower,” according to the Wall Street Journal, which reported the figure shortly before Deutsche Bank issued its statement.

U.S. shares of Deutsche Bank tumbled 6.5 percent to $13.80 in extended trading at 7:03 p.m. in New York. The company’s stock has plunged 42 percent this year in Germany through the close of trading Thursday.

Justice Department spokesman Peter Carr declined to comment on the negotiations.

Rest here…

~

4closureFraud.org

Comments
5 Responses to “U.S. Dept of Justice Asks Deutsche Bank to Pay $14 Billion Mortgage Settlement, Bank Says No”
  1. I’m still fighting with nation star mortgage company can anyone help me I have been doing this myself for a few years and the lawyers I have payed just took my money and didn’t help me
    Thank you my name is Dawn Robinson philadelphia pa 2672276867

  2. Kent says:

    Why isn’t Chase and Bank of America added to the list of fraud. It’s not only Wells Fargo but it seems they are being targeted

  3. Michael says:

    New jersey are you paying attention yet especially court system

  4. Dawn Robinson says:

    Hi my name is Dawn Robinson of Philadelphia I have been fighting with Bank of America mortgage nation star mortgage and Deushire bank for over 10 years it’s about time someone looked At the banks for filling fake papers to take homes off of people who are trying to keep there family’s together and keep the house that they are paying for

    • mike Drouin says:

      The reason the Banks are filing fake papers in the Court is because you , like millions of other Americans are involved in ” Fake Mortgages ” !! If the Mortgages are a LIE , then all the paperwork generated after , would be a Lie to support the Lie . Your home was involved in a Half-assed securities contract !! The way they executed this Scheme , makes it extremely ILLEGAL !!! The Bad news is , the Government aided and abetted the Banks , the States DOJ’S were bought off to stand down , and unless your completely competent in a Federal Court of Law , in a PRO SE Capacity , there isn’t much hope . The system is corrupt to the point of interpreting it as ” Organized crime ” I’m sorry for the Bad news , but the truth can be unpleasant if your willing to embrace it . There are several families fighting here in NH in the Federal Court . The State is playing dumb to the evidence that exposes the illegal scheme and the Federal Court Judge is allowing circumstances in violation of his oath of office , to try and torpedo a trial by jury to expose the Ponzi scheme . We have the smoking gun evidence in these cases that reveals what happened to cause the 08 crises !!!!

Leave a Reply

Your email address will not be published. Required fields are marked *