AG Barbara Underwood says Citigroup will pay $100m

15 June, 2018

underwoodCitigroup agreed to settle charges related to the manipulation of the London Interbank Offered Rate, better known as Libor.

Citi will pay $100 million to the New York State Attorney General’s office and 41 other states involved with the investigation, New York Attorney General Barbara Underwood said June 15. New York has been leading the Libor investigations due to size of the banking industry and with Wall Street based here.
Several banks have been accused of, and have settled, charges that its traders and bankers manipulated Libor. Global fines have topped $9 billion.   Swiss bank UBS has paid more than $1.5 billion in fines and penalties to U.S. and European authorities for its manipulation of Libor. JPMorgan Chase paid more than $100 million in fines to European authorities for its role in interest rate manipulation, and British bank Barclays has paid more than half a billion dollars in fines and penalties to settle allegations.

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