Deutsche Bank Making ‘Good Progress’ on DOJ Deal, Sewing Says
- Justice Department initially asked for $14 billion settlement
- Deutsche Bank faced $10.5 billion in legal costs since 2008
This article is for subscribers only.
Deutsche Bank AG has made “good progress” in talks with the U.S. Justice Department to settle an investigation into its subprime-era mortgage securities business, according to management board member Christian Sewing.
“This is a really difficult situation for us,” Sewing said on a panel at a conference in Hamburg on Thursday. “We have been making good progress over the past four to five weeks.”