Banks Accused Of Rigging Libor After Post-Scandal Overhaul

By Matthew Perlman (January 16, 2019, 8:27 PM EST) -- A Connecticut bank on Tuesday accused the owner of the New York Stock Exchange of conspiring with some of the world's largest banks to artificially deflate a key financial benchmark after taking over responsibility for the rate setting following a previous price-fixing scandal.

Putnam Bank filed a proposed class action in New York federal court alleging that the 18 banks that help set the London Inter-bank Offered Rate, including Bank of America, Citigroup and JPMorgan, have been intentionally depressing the benchmark through their submissions to an affiliate of Intercontinental Exchange Inc., owner of the NYSE.

ICE took over rate setting duties...

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