'Currency manipulation': Banks agree to pay $2bn in settlements
August 15 , 2015
Banks have agreed to pay $2 billion in settlements to American investors following claims of rigging foreign exchange rates.
Investors such as pension funds and hedge funds have accused the banks of conspiring to manipulate exchange rates.
The nine banks are Barclays, BNP Paribas, RBS, HSBC, JP Morgan, Bank of America, Citibank, UBS and Goldman Sachs.
Seven other banks are also under the scanner, lawyers said, calling the US settlement as “just the beginning”.
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