BARCLAYS SETTLES CHARGES: Barclays PLC will pay about $453 million to settle charges that it tried to manipulate interest rates that can affect how much people pay for loans to buy a house or attend college. The big British bank is paying a $200 million civil penalty levied by the Commodity Futures Trading Commission, the largest in the agency’s history. Barclays also is paying $160 million in an agreement with the Justice Department and $92.7 million to British regulators.
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BIG BANKS BEING PROBED: Barclays was one of several major banks reportedly under investigation for such violations. Barclays is cooperating with the Justice Department’s criminal investigation.
TRYING TO RIG KEY RATE: The regulators say Barclays’ senior management and several traders tried to manipulate data used to determine the London interbank offered rate — known as LIBOR — and Euribor rates. The incidents occurred between 2005 and 2009 and sometimes took place daily, they say.
