JP Morgan & Citigroup to Pay $182.5 Million Settlement Fee

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JP Morgan & Citigroup to Pay $182.5 Million Settlement Fee

Postby » Thu Nov 22, 2018 4:57 pm

Citigroup and JP Morgan look set to pay a combined total of $182.5 million to settle a case brought against them, as well as a number of other banks, by a group of investment companies. The two banking giants are accused of having violated antitrust laws.

Along with a handful of other banks, Citigroup and JP Morgan allegedly manipulated theEuropean Interbank Offered Rate (Euribor) – an interest rate benchmark used by firms as a reference point for euro-denominated financial instruments.

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