Banking Latest News: Deutsche Bank Appoints New Head of Aussie/NZ Unit

Deutsche Bank has found a replacement for JT Macfarlane, the CEO of its Australia and New Zealand unit who is stepping down after 25 years with the bank. The US Department of Justice has accused Bank of America of defrauding investors, by vastly underestimating the quality of some $850 million worth of mortgage-backed securities. The judge overseeing Detroit's bankruptcy filing will allow Detroit property owners to file tax appeals despite a stay preventing all legal action against the city while it is in bankruptcy court. Judge Steven Rhodes ruled Tuesday that property tax appeals could be filed but that property owners can't collect on any decision or refund without prior approval from the court.
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