The Department Of Justice Has A Surprise For Deutsche Bank (Update)

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The Germans are getting sued, today, for “years of reckless lending practices.”

According to a press release issued by the U.S. attorney’s office in Manhattan, the Justice Department will sue Deutsche Bank and its subsidiary MortgageIT for “years of reckless lending practices.”

According to the release, the suit will be a “civil mortgage fraud lawsuit.” The office has scheduled a press conference at 1:00 p.m. EDT on Tuesday.

Update: Here's the complaint, via Deabook.

U.S. v. Deutsche Bank and MortgageIT

DOJ To Sue Deutsche Bank Over Reckless Lending Practices [WSJ]
Government Sues Deutsche Bank Over Mortgages [Dealbook]

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