Bloomberg News reports that the bank could face a total fine of more than $1.5bn, a person familiar with the matter said earlier this month. The penalty would be larger than those paid by any of the other seven banks that have settled with the U.S. and U.K. over rigging the London interbank offered rate.
A settlement would remove a key legal threat that has haunted Deutsche Bank co-Chief Executive Officer Anshu Jain since 2012. The Libor scandal has forced at least one CEO, Barclays’ Bob Diamond, to resign and cost banks billions of dollars in penalties.
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