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Deutsche shares hit new low following report Trump transactions set off alarms

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Deutsche shares hit new low following report Trump transactions set off alarms

Deutsche Bank AG's shares hit a new record low May 20 following a report that some of its executives prevented suspicious transactions involving entities controlled by U.S. President Donald Trump and his son-in-law, Jared Kushner, from being reported to authorities.

Citing five former and current employees of the German lender, The New York Times reported that the bank's compliance staff in 2016 and 2017 flagged multiple transactions as needing further review for possible suspicious activity but Deutsche executives allegedly elected not to act on the information. The alleged transactions reportedly set off alarms in Deutsche Bank's computer monitoring system.

Deutsche Bank denied the report.

Deutsche Bank's shares fell to a new record low of €6.61.