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Department was demanding $14 billion. The stock has recovered substantially, but is down from the
beginning of 2016.
OTHER BANKS
The Justice Department is still pursuing mortgage allegations against other lenders in addition to
Barclays.
Credit Suisse Group AG (CSGN.S) is in late-stage negotiations and has resisted a demand by the
agency that it pay between $5 billion and $7 billion over its sale of mortgage securities, sources have
said.
Royal Bank of Scotland Group PLC (RBS.L), Wells Fargo & Co (WFC.N), UBS Group AG (UBSG.S)
and HSBC (HSBA.L) are also under investigation, according to company disclosures.
U.S. banks have paid tens of billions of dollars over the past three years to settle with U.S.
authorities over misleading investors about the quality of mortgages underlying securities.
In 2013, JPMorgan Chase & Co (JPM.N) agreed to pay $13 billion. The following year, Bank of
America Corp (BAC.N) agreed to pay $16.65 billion, while Citigroup (C.N) cut a deal for $7 billion. In
February this year, Morgan Stanley (MS.N) agreed to pay $2.6 billion, and in April, Goldman Sachs
Group Inc (GS.N) negotiated a $5 billion deal.
Deutsche is not the first bank to announce a settlement amount before both sides have agreed on
the final documentation. Morgan Stanley disclosed its agreement a year before it was finalized and
formally announced.
(Reporting by Karen Freifeld in New York and Arno Schuetze in Frankfurt; Additional reporting by
Anya George Tharakan and Parikshit Mishra; Writing by Lauren Tara LaCapra; Editing by Meredith
Mazzilli, Sandra Maler and Christopher Cushing)
http://www.reuters.com/article/us-deutsche-bank-mortgages-settlement-idUSKBN14C041