Wednesday, May 20, 2015

Big Banks Pay $5.6 Billion, Plead Guilty To Felonies Over Currency And Rate-Fixing

Citicorp, JPMorgan Chase, Barclays, The Royal Bank of Scotland and UBS AG have agreed to plead guilty to felony charges and pay billions in criminal fines, the Department of Justice says. The offenses range from manipulating the value of dollars and euros to rigging interest rates.

Citicorp, JPMorgan Chase, Barclays, The Royal Bank of Scotland will pay fines totaling $2.5 billion to the Justice Department. In addition, the Federal Reserve is imposing fines of more than $1.6 billion on the five banks.

A breakdown of the fines paid to the Fed and Justice: - Read More at NPR

Big Banks Pay $5.6 Billion, Plead Guilty To Felonies Over Currency And Rate-Fixing

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