Citi To Pay States $100M For Libor Rigging

By Stewart Bishop (June 15, 2018, 12:43 PM EDT) -- A Citigroup Inc. unit has agreed to pay $100 million to 41 U.S. states and the District of Columbia for manipulating its U.S. Dollar London Interbank Offered Rate submissions in order to dodge bad publicity, prosecutors said Friday.

New York Attorney General Barbara D. Underwood said Friday the $100 million deal will resolves allegations of Libor-rigging against Citibank NA. (AP)

New York Attorney General Barbara D. Underwood said the deal will resolve allegations that Citibank NA fraudulently made submissions of the benchmark interest rate that were inconsistent with the banking giant's actual borrowing costs, in an effort to protect the bank's...

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