LANSING (AP) — State Attorney General Bill Schuette says the state is pocketing $3 million from Citibank as part of a $100 million settlement over alleged interest rate manipulation.
Schuette said Friday Citibank agreed to the settlement with 41 other state attorneys general.
The bank is accused of manipulating the U.S. Dollar London Interbank Offered Rate, a benchmark interest rate that affects multi-trillion-dollar financial instruments.
Schuette is a Republican running for Michigan governor. He says Citibank is the third bank to settle.
Citibank spokeswoman Danielle Romero-Apsilos told The Associated Press that Citi's top priority is “keeping with the highest ethical standards.”
- Posted June 18, 2018
- Tweet This | Share on Facebook
AG: Citibank to pay Michigan $3M
headlines Macomb
- Lawyer publishes first of three children’s books
- US government agrees to $138.7M settlement over FBI's botching of Larry Nassar assault allegations
- Owner of twice-sunken Lake Michigan barge pleads guilty to felony
- Woman charged with murder in crash that killed young brother and sister at birthday party
- MDHHS to issue maternal health quality payments to hospitals
headlines National
- New Legalese: You may have heard a deepfake, but what about ‘Twiqbal’?
- From Intake to Outcome: An in-house lawyer’s guide to matter management solutions
- 2 BigLaw firms in merger talks that could produce 1,600-lawyer firm with top 50 revenue
- Send in the paralegals
- Lawyer reprimanded after mistakenly emailing opposing counsel with plan to avoid judge’s call
- ‘I don’t play well’ judge who threatened to track down, jail misbehaving litigant gets tossed from case