Mealey's Antitrust/Unfair Competition - FDIC: Banks Colluded To Manipulate Libor

Mealey's Antitrust/Unfair Competition - FDIC: Banks Colluded To Manipulate Libor

NEW YORK - The Federal Deposit Insurance Corp., suing on behalf of 38 failed banks, filed a complaint in a New York federal court on March 14 against 19 banks, including Bank of America Corp. and JPMorgan Chase & Co. (Chase), alleging that they manipulated the London Interbank Offered Rate (Libor) in order to illegally boost their profits (Federal Deposit Insurance Corp., et al. v. Bank of America Corp., et al., No. 14-1757, S.D. N.Y.).

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