Banking, finance, and taxes
Deutsche Bank Rebuffs US Effort to Fine It $14 Billion -- Bloomberg
Published:
Last Updated:
According to Bloomberg, Deutsche Bank A.G. (NYSE: DB) has just turned down a request by the U.S. government to fine it $14 billion for its role in the financial debacle that nearly destroyed the American financial system.
Deutsche Bank AG slumped after receiving a $14 billion claim from the U.S. Justice Department to settle an investigation into the firm’s sale of residential mortgage-backed securities, a figure the German lender said it’s not willing to pay.
“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.”
Robinhood revolutionized commission free investing, and it continues to do so today. With a few simple taps you can trade stocks like Nvidia and Amazon, market beating mutual funds, and trade options with Robinhood Financial. FDIC insurance coverage is just another benefit.
And, you can buy and sell cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) with Robinhood Crypto.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.