Deutsche Bank shares plunge before rumours of reduced settlement prompt rally

Deutsche Bank shares staged a dramatic recovery on Friday afternoon after reports emerged that it could only have to stump up 5.4 billion US dollars , rather than 14 billion US dollars , as part of a US Department of Justice settlement. The German lender's shares had slipped to 9.98 euro at one point, their lowest level since the 1980s, but recovered and were trading 7.5% up at 11.70 euro in afternoon trading.

US pre-open: Stocks seen slightly lower, with Deutsche still in focus

US futures pointed to negative open on Wall Street as worries about Deutsche Bank and the broader financial sector continued to weigh on investors' minds, although losses looked set to be fairly limited after Thursday's decline. At 1140 BST, Dow Jones Industrial Average and Nasdaq futures were down 0.3%, while S&P 500 futures were 0.2% weaker.

Fed Chair Janet Yellen Defensive Against Trump Accusations

Federal Reserve Chair Janet Yellen defended the independence of the U.S. central bank Wednesday, saying it does not play politics in response to charges from Donald Trump that she is manipulating financial markets to benefit President Obama. Trump earlier this month said that the Yellen-led Fed is keeping interest rates low in order to give a boost to the stock market in an effort to make Obama's economic record look good.

The Impact Of The Deutsche Bank Fine On Its Capital And On Other Banks

A final settlement in the upper scale will result in pressure on other banks to increase provisions for litigation expenses. The U.S Department of Justice's initial proposed settlement of $14bn for Deutsche Bank's Residential Mortgage Backed Securities misdeeds has sent shock waves through the market with DB's stock spiraling downwards.

Deutsche Bank Said to Securitize $5.5 Billion of Loans to Buoy Capital

Deutsche Bank is using a tailored financial structure to transfer the risk of losses to investors on a pool of corporate loans, according to people with knowledge of the matter. Deutsche Bank , facing investor concerns about its capital adequacy, plans to securitize more than $5.5 billion of corporate loans, in a move that's expected to reduce risks and bolster the lender's financial picture, people with knowledge of the matter said.

Shares of Deutsche Bank plunge amid US legal dispute

Shares in Deutsche Bank AG plunged Friday after the revelation that the U.S. Department of Justice is seeking $14 billion to settle civil claims over its handing of residential mortgage-backed securities. It's the latest blow for Germany's biggest bank by assets, which is in the middle of a painful transition as it tries to meet tougher regulatory requirements, cut costs and settle multiple legal investigations.

Clinton reveals more details on CU reg relief plan

Democratic presidential nominee Hillary Clinton on Thursday revealed more details in her regulatory relief plan for credit unions and other community institutions, including making clear when they are exempt from regulation and cutting down on regulatory "creep." "While Wall Street's reckless risk-taking created a global financial crisis, community banks and credit unions were working to help ordinary Americans and Main Street get ahead," she said.

U.S. Appeals Court Rejects Request to Reconsider Bank of America Ruling

A U.S. appeals court refused on Monday to reconsider its decision to overturn a $1.27 billion penalty against Bank of America Corp and a jury verdict finding it liable for mortgage fraud leading up to the 2008 financial crisis. The 2nd U.S. Circuit Court of Appeals in New York rejected a petition by Manhattan U.S. Attorney Preet Bharara's office to have a three-judge panel rehear the case and give the government at least an opportunity to seek a new trial.

Louisiana residents without flood insurance face uncertainty

Quenton Robins watched on Sunday morning as a giant metal claw clamped down on his mother's ruined belongings, snapping wooden cabinets with an audible crack as the operator of a giant mechanized arm slowly cleared a mound of debris from her yard in Baton Rouge. Five feet of water swept through the homes in the quiet Park Forest neighborhood just over a week ago, shocking residents who had been told they did not live in a flood zone.