Bloomberg - Barclays and U.S. said to talk toxic

Barclays and the U.S. Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement, according to people with knowledge of the situation.

Bloomberg News reports that The Justice Department has responded in recent weeks to requests from the London-based bank to reopen negotiations, said the people, who asked not to be identified speaking about a confidential process. If successful, the bank would avoid a protracted trial and remove a major misconduct issue weighing on its share price.

The Justice Department sued Barclays for fraud in December, in the waning days of the Obama administration, after the bank refused to pay the amount the government sought in negotiations. At the time, people familiar with situation said Barclays was willing to pay no more than $2 billion to settle the civil matter, while the Justice Department was seeking a far higher penalty.

Hit the link below to access the complete Bloomberg News article:

Barclays and U.S. Renew Talks Over Toxic Mortgages Lawsuit

Colin Fan Sues Deutsche Bank for $13 Million Over Unpaid Bonus


JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News