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
headlines National
- Incarceration series includes female inmates but doesn’t tell full story
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Former DOJ official who alleged election fraud violated at least one ethics rule, ethics committee says
- Winston & Strawn will provide reduced-cost legal services for routine tasks under Winston Legal Solutions umbrella
- Should Justice Sotomayor retire? Chemerinsky, White House haven’t joined calls for her to step down
- Which BigLaw firms are increasing lateral associate hiring the most? One made legal headlines last year