“Royal Bank of Scotland Group Plc was ordered to pay $50 million by a federal judge in Connecticut over claims that it rigged the London interbank offered rate. RBS was among six companies fined a record 1.7 billion euros ($2.3 billion) by the European Union last month for rigging interest rates linked to Libor. The combined fines for manipulating yen Libor and Euribor, the benchmark money-market rate for the euro, are the largest-ever EU cartel penalties. Global fines for rate-rigging have reached $6 billion since June 2012 as authorities around the world probe whether traders worked together to fix Libor, meant to reflect the interest rate at which banks lend to each other, to benefit trading positions.”
Related posts:
In China, Widening Discontent Among the Communist Party Faithful
Virginia State Trooper inattentively plows into skateboarder, beats hasty exit
With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-America...
Churchill and Stalin made 'merry' until early hours
Dollar-Less Iranians Discover Virtual Currency
Australian spies participating in global deal to tap undersea cables
CIA Begins Weapons Delivery To Syrian Rebels
Colorado manufacturer threatens to leave state if gun bill passes
The secret history of drones
Chief Greek Statistician Threatened with Jail For Revealing True Size of Deficit
TSA and Border Patrol stole his life savings but never charged him with a crime
Europe takes on Apple, Facebook, Google and Amazon
U.S. to impose 'national security' tariffs on uranium imports
16 Year Old Questioned By FBI for Supporting Ron Paul
Privacy debate looms as Canada prepares to share bank data with U.S.