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REPORT: Barclays, Deutsche Bank and Credit Suisse face billions in fines before the US election

The US is seeking a deal to fine Barclays, Credit Suisse and Deutsche Bank billions of dollars before the November election, according to a report in the Financial Times. The banks face fines from the US Department of Justice, led by Attorney General Loretta Lynch, for the illegal sale of mortgage bonds in the US before the 2008 financial crisis. The DOJ is attempting to wind up a triple deal "to achieve maximum public impact" before the US goes to the polls in November, the FT said.
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