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Deutsche Bank to pay $16M to settle corruption charges

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The U.S. Securities and Exchange Commission obtained an order requiring Deutsche Bank to pay a $16.2 million fine.

The bank was accused of hiring relatives of foreign government officials in order to win business in China and Russia.

JPMorgan Chase and Credit Suisse formerly were fined about $264 million and $77 million, respectively, for similar accusations.

Read more from Zacks Equity Research.

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