Exclusive: U.S. digs deeper into Deutsche role in Danske money laundering scandal – sources

FRANKFURT/NEW YORK (Reuters) – The U.S. Department of Justice has in recent weeks stepped up its investigation into Deutsche Bank’s role in the 200 billion euro ($220 billion) Danske Bank money laundering scandal, four people familiar with the inquiry told Reuters. One source said the DoJ’s new line of inquiry is whether Deutsche (DBKGn.DE) helped move tainted money from Danske(DANSKE.CO), […]

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U.S. fines former Deutsche Bank subprime chief over alleged mortgage fraud

NEW YORK (Reuters) – A former head of subprime trading at Deutsche Bank AG (DBKGn.DE) will pay a $500,000 civil fine to resolve charges he misled investors about the quality of loans backing $1.42 billion of residential mortgage-backed securities (RMBS) issued before the 2008 financial crisis. The U.S. Department of Justice on Thursday announced the settlement with Paul Mangione, who […]

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German authorities raid Deutsche Bank in relation to Danske Bank

FRANKFURT (Reuters) – German authorities have been in the process of seeking information at Deutsche Bank’s (DBKGn.DE) Frankfurt headquarters since Tuesday in relation to Danske Bank (DANSKE.CO) and a money laundering scandal, Frankfurt prosecutors said on Wednesday. They are investigating whether Deutsche alerted authorities about suspicious transactions quickly enough, the prosecutors said. The search, which is still ongoing, involves three […]

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Exclusive: Deutsche Bank's problem derivatives cloud recovery – sources

NEW YORK (Reuters) – Deutsche Bank AG’s (DBKGn.DE) turnaround strategy rests in large part on shedding 288 billion euros of unwanted assets. Three bank insiders said it will take years, tying up capital that could have generated income of 500 million euros ($557 million) a year. The opportunity cost of unloading the assets, which has not been previously reported, underscores […]

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Deutsche Bank shares slide again on doubts about turnaround

LONDON/FRANKFURT (Reuters) – Deutsche Bank DKBGn.DE shares extended losses on Tuesday on investor doubts that the new chief executive can revive the lender by shrinking the investment bank and returning to its roots as banker to corporate Germany. Christian Sewing, CEO for just over a year, and his finance chief are on week-long roadshow to explain the restructuring. Sewing plans […]

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Exclusive: Deutsche Bank braced for continued Fed restrictions on U.S. business – sources

NEW YORK (Reuters) – Deutsche Bank AG executives expect U.S. regulators to continue to impose restrictions on its Wall Street investment bank even if it passes an annual health check, three sources familiar with the matter said. Executives hope improvements the bank has made to its risk management and capital planning processes since failing last year’s test will enable it […]

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Bank staff flagged Trump, Kushner transactions for watchdog: NYTimes

WASHINGTON (Reuters) – Anti-money laundering specialists at Deutsche Bank AG recommended in 2016 and 2017 that multiple transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog, the New York Times reported on Sunday. The newspaper, citing five current and former Deutsche Bank employees, said executives at the German-based bank, […]

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German bank merger crumbles as Deutsche Bank tie-up talks with Commerzbank end

FRANKFURT (Reuters) – Deutsche Bank and Commerzbank abandoned their merger talks on Thursday, with the risks of doing a deal, restructuring costs and capital demands dashing efforts to forge a German mega-bank. After nearly six weeks of talks, Germany’s two largest banks announced that their high-level negotiations about a tie-up had ended, confirming an earlier Reuters report and raising questions […]

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