Deutsche Bank, Credit Suisse Willing to Pay $12 B to Settle US Investigations

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Source: OCCRP  23 December 2016

Financial giants Deutsche Bank and Credit Suisse stated on Friday they were willing to pay more than US$ 12 billion to settle United States investigations into the sale of toxic mortgage-backed securities of the type that helped cause the 2008 global financial crisis.

If approved, Deutsche Bank’s settlement would resolve just one of several probes the bank faces, including allegations it manipulated foreign exchange rates, was involved in shady equity trades in Russia, and possibly violated US foreign sanctions.

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