Deutsche Bank not worried about legal action in US

Deutsche-BankDeutsche Bank, the German banking player said on Tuesday to the media that it was not worried about the possible legal actions that it may face in the US.

The legal obstacles have come since the bank was found packaging and selling various products which forced it to be part of the financial crisis.

Talking to the media, Stefan Krause, Chief Financial Officer of Deutsche Bank has said that they have received the Wells Notice from the SEC. It talks about the kind of legal charges that have been imposed on it.

But, he also said that as compared to the charges that American bank Goldman Sachs is facing, they are nothing.

SEC has asked Deutsche bank to give all the information regarding its collateral debt obligations in America.

While Goldman has denied any kind of frauds, Deutsche has promised to help the American authorities.

Krause has also said that Deutsche Bank has received subpoenas too. These have been found to be tied with some other investigations going on in US.

He also said that the bank's interim report will talk about all the details.




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