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U.S. Seeks Joint Settlement of Banks’ Mortgage Claims, FT Says

The U.S. Department of Justice hopes to agree a combined settlement with Deutsche Bank AG, Barclays Plc and Credit Suisse Group AG, extracting multibillion dollar fines from the three European banks for mis-selling mortgage securities, the Financial Times reported Friday.

Grouping the three banks together could secure maximum publicity for the large penalties ahead of the U.S. presidential election, the newspaper said.