Tagged: bank

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Six banks to pay $4.33 billion in fines over allegations they manipulated foreign exchange rates

Citibank, HSBC, JPMorgan Chase, RBS and UBS will collectively pay $1.4 billion to the U.S. Commodity Futures Trading Commission and about$1.75 billion to the U.K.’s Financial Conduct Authority. UBS will also make a payment in Switzerland. In addition, the U.S. Office of the Comptroller of the Currency said Bank of America, Citibank and JPMorgan Chase will pay a combined $950 in penalties.

Arizona Alleges BofA Violated Law 0

Arizona Alleges BofA Violated Law

Arizona Attorney General Terry Goddard filed a lawsuit against Bank of America Corp. (BAC) alleging that the nation’s largest bank in assets committed “widespread consumer fraud” in its handling of loan modifications.

Is Citigroup Cooking the Books 0

Is Citigroup Cooking the Books

An all-out war has broken out between Citigroup CEO Vikram Pandit and a prominent securities analyst who is saying that the big bank may be cooking the books by inflating its earnings through an accounting gimmick.