The COVID-19 pandemic caused Deutsche Bank to pause one of several dramatic steps to improve itself — a global layoff of 18,000 staff members — but new economic pressures are causing the German banking giant to revive its headcount reduction. The about-face is in contrast to HSBC, which recently put the brakes on a layoff… Read More >>
Deutsche Bank Settles ‘Improper’ FX Conduct Case
Deutsche Bank AG will pay a fine of $205 million to the New York State Department of Financial Services (DFS) for violations of New York banking law that include “efforts to improperly coordinate trading activity through online chat rooms, improperly sharing confidential customer information, trading aggressively to skew prices, and misleading customers.” The fine and… Read More >>
Fed Penalizes Deutsche Bank $41M and Demands Ops Overhaul
The Federal Reserve Board has hit the U.S. operations of Deutsche Bank AG with a $41 million penalty and a cease and desist order, alleging anti-money laundering (AML) deficiencies that bank officials are pledging to fix. Specifically, the Fed is focusing its efforts on the German bank’s holding company, DB USA Corp. (DB USA), which… Read More >>