Posted in Uncategorized

THE LIBOR HOMEOWNER INTEREST RATE LITIGATION

Justice League

From Sharbrough Law website:

The London Interbank Offered Rate, or LIBOR, is a benchmark interest rate set by the world’s largest banks.  While the average american was or is blissfully ignorant about the specifics of LIBOR, it affected so many financial instruments that is was justifiably called the “most important interest rate in the world.”  LIBOR is used to set interest rates on such credit instruments as private student loans, auto loans, adjustable-rate mortgages, credit cards, etc., all of which  need to be indexed to some underlying marker of the overall cost of funds within the financial system.  

When we became aware of growing evidence that LIBOR numbers have been deliberately manipulated by banks for years, which would mean that millions of people have been paying the wrong interest rate on all manner of financial products, we immediately filed a class action suit against the responsible banks.   We believe that vast sums…

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