Posted in Financial

Talking Tough With the Banks – NYTimes.com

Several big banks are reportedly close to settling charges of price rigging in the multitrillion-dollar market for trading foreign currencies. The settlements being negotiated by the Justice Department are expected to be tougher than past settlements, but that is not saying much.

In recent years, banks have settled with the authorities on a stunning array of charges, including interest rate rigging, mortgage fraud, securities fraud, money laundering, foreclosure abuse and conspiracy to aid tax evasion — usually without admitting wrongdoing.

Read more -> Talking Tough With the Banks – NYTimes.com.

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