Legal post 1290. Deutsche Bank condemned to pay for LIBOR manipulating
Friday, April 24, 2015 @ 2:30 PM
Deutsche Bank will pay a $2.5 billion penalty to United States and British authorities to settle accusations on London Based LIBOR rate manipulation.
This index is a reference to set interest rates for trillions of dollars in mortgages, student loans, credit cards.....
Several big financial institutions in various countries were involved in manipulating the rate for their own profit.
Here's Times story.
Did it have an effect on us? What do you think?
Have a wonderful Bank-free weekend!
María
Defile of the Gaitanes, El Chorro, Ardales, Málaga, South eastern Spain, at facebook.com