The Presidential Daily Brief

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    Deutsche Bank Agrees to $7.2 Billion in US Fines

    They’ve reached a settlement. In September, U.S. authorities told Deutsche Bank to pay $14 billion over shady mortgage-backed securities. That sum, which could’ve been a critical hit for the bank, raised concerns over what Deutsche’s failure would mean for markets. Now it’s been negotiated down by nearly half, while Credit Suisse agreed to pay $5.3 billion in a similar deal. Shares in both banks leapt at the news, while Barclays stock dropped as regulators announced they’ll be suing the bank after talks in a similar probe broke down.

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