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REPORT: Deutsche Bank could cut back its US operation

Deutsche Bank is considering scaling back its US operations amid spiralling legal and capital costs, according to multiple reports. Bloomberg and German paper Sueddeutsche Zeitung both report that management at the bank have discussed cutting back investment banking operations in the US to save money. Meanwhile, German newspaper Die Welt am Sonntag reports that a pullback of US operations could be part of a deal with the US Department of Justice (DoJ) over misselling of mortgage-backed securities in the run-up to the 2007 US housing crisis.
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