House Lawmakers Launch Libor Manipulation Probe

Law360, New York (July 16, 2012, 6:58 PM EDT) -- Leaders of the House Financial Services Committee said Monday that the committee would investigate the burgeoning scandal surrounding banks' alleged manipulation of the London Interbank Offered Rate and could schedule hearings on the issue, if warranted.

Committee staff have been instructed to organize briefings with outside experts, regulatory agencies and others, the first of which will be held on Tuesday, according to a memo to committee members from committee chairman Rep. Spencer Bachus, R-Ala., and ranking minority member Rep. Barney Frank, D-Mass.

Lawmakers will also get...
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