Deutsche Bank Has 'No Intent' to Pay Proposed $14 Billion Fine
The bank's shares are taking a hit after the Justice Department proposes a $14 billion settlement.
Shares of Deutsche Bank (DB) - Get Report were lower Friday as the Justice Department and the bank are apparently not on the same page. The DOJ proposed a $14 billion settlement tied to Deutsche Bank's previous sale of mortgage-backed securities. Deutsche Bank responded saying in a statement that it has "no intent" to settle the civil claims "anywhere near the number cited." The bank adding that "negotiations are only just beginning" and it expects that they will lead to an "outcome similar to those of peer banks which have settled at materially lower amounts."
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