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EU fines first U.S. banks in rate rigging scandal

Published on December 4, 2013 By admin

The following article is brought to you by Danielle Douglas at WashingtonPost.Com JPMorgan Chase and Citigroup have become the first U.S. banks fined for the alleged manipulation of benchmark interest rates that affect hundreds of billions of dollars in contracts around the world. On Wednesday, the European Commission slapped six financial giants, including Deutsche Bank, […]

Banks Sued by U.S. Homeowners Over Rigging of Libor Benchmark

Published on November 14, 2012 By admin

The following article is brought to you by Neil Callanan at BusinessWeek.Com. U.S. homeowners filed a lawsuit against 12 banks, including Barclays Bank Plc and JPMorgan Chase & Co. (JPM), claiming that manipulation of the benchmark Libor lending rate made their mortgage repayments more expensive. Traders at banks in Europe and North America such as […]