Deutsche Bank: US seeks $14B in mortgage case

Deutsche Bank officials say the U.S. Department of Justice is asking the company to pay $14 billion to settle an investigation into its selling of mortgage-backed securities.

"Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited. The negotiations are only just beginning. The bank expects that they will lead to an outcome similar to those of peer banks which have settled at materially lower amounts," Deutsche Bank officials said in a statement on Friday.

Claims filed against Deutsche allege the company manipulated subprime loans and foreign exchange rates.

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