When it comes to toxic mortgage bonds, Deutsche Bank (with the $14Bn settlement hanging over its head) is not the only game in town.  Credit Suisse and Barclays are also in settlement talks with the Justice Department, according to people familiar with the matter.  In fact, a Credit Suisse deal could be announced within several weeks. 

Credit Suisse reportedly has set aside the equivalent of $1.62 billion to cover litigation expenses as of the end of Q2 2016.  In addition to the mortgage-securities claims, the bank also faces allegations of rigging financial benchmarks and criminal complaints in Switzerland by clients.  

London-based Barclays has set aside $3.3 billion for investigations and litigation in the 2 years ended in June and hasn’t specified a provision for a U.S. mortgage settlement.

So there are at least 3 banks in active discussions to settle investigations into mortgage-backed securities dealings that sparked the 2008 financial crisis.  With about 4 months remaining before a new administration takes over, federal officials are eager to wrap up the pending cases. If talks drag out or fall apart, the cases could go to civil trial.

To its credit, the government already has secured $46 billion in penalties, compensation and consumer relief from 6 firms related to the marketing of mortgage-backed securities - JPMorgan Chase, Citigroup, Bank of America, Morgan Stanley and Goldman Sachs have all settled residential mortgage-backed securities cases with the U.S., as has Standard & Poor’s, a unit of McGraw Hill Financial.