Six Big Banks Fined More Than $4 Billion in Foreign Currency Probe.
Six banks have agreed to pay $4.33 billion in fines to global regulators to resolve allegations that they attempted to manipulate foreign exchange rates. Citibank (
UBS will also make a payment in Switzerland. The fines are the largest ever imposed by the British regulator, which said it will continue to investigate potential wrongdoing at Barclays ( ). 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 million in penalties.
Is anybody really surprised…only suspense is what will they do next?