U.S. Says Deutsche Bank Lied

The Justice Department accused Deutsche Bank AG of "recklessly" lying about the quality of loans made cheap new era fifted hats by a mortgage unit of the German bank and guaranteed by the U.S. government.

In a civil lawsuit filed Tuesday in federal court in Manhattan, U.S. Attorney Preet Bharara sought to recover alleged damages and losses on mortgages insured by the Department of Housing and Urban Development, which could total more than $1 billion.