Credit Suisse, Barclays in mortgage-settlement talks with DoJ: Bloomberg

Logo of Swiss bank Credit Suisse seen below the Swiss national flag at a building in the Federal Square in Bern

(Reuters) – Credit Suisse Group AG <CSGN.S> and Barclays Plc <BARC.L> are in mortgage-settlement talks with the U.S. Department of Justice, Bloomberg reported, citing sources.

A Credit Suisse deal could be announced within several weeks, a source familiar with the matter told Bloomberg. (

Credit Suisse declined to comment on the report. Barclays and the Department of Justice could not immediately be reached.

DoJ officials are eager to wrap up pending cases against lenders, a source told Bloomberg, but said the talks could drag out or fall apart, sending the cases to civil trial.

The settlement figures under discussion with either bank could not immediately be learned, Bloomberg said.

Deutsche Bank <DBKGn.DE> said this month that it would fight a $14 billion demand from the DoJ to settle claims it mis-sold mortgage-backed securities.

Other banks that have disclosed investigations related to their mortgage securities businesses include UBS Group AG <UBSG.S>, Royal Bank of Scotland Group Plc <RBS.L>, HSBC Holdings Plc <HSBA.L> and Wells Fargo & Co <WFC.N>.

(Reporting by Sruthi Shankar in Bengaluru; Additional reporting by Olivia Oran in New York)