Lloyds Banking Group To Pay $370m In Fines For Libor Rate Rigging - Presented by: The Aol. On Network

Britain's Lloyds Banking Group has agreed to pay fines totaling $370 million to U.S. and British authorities investigating its part in a global interest rate rigging scandal. The settlement is the seventh joint penalty handed out by U.S. and British regulators, in connection with the attempted manipulation of the London interbank offered rate, or "Libor," and other similar benchmarks--which are used to price around 450 trillion dollars of financial products worldwide.



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