5 years ago
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Citibank fined $100 million for interest rate manipulation
Citibank will pay a huge fine for manipulating an important interest rate. The bank settled with attorneys general in 42 states for $100 million. Following an investigation, the states said Citibank manipulated Libor, a benchmark interest rate that helps set lending rates across the world. Citibank made millions of dollars of gains from its "fraudulent conduct," the attorneys general said.
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http://money.cnn.com
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$100 Million a huge fine? A gentle slap on the wrist with a soggy lettuce leaf more likely. Pocket change for Citibank.