Seven Banks to Pay $324 Million to Resolve ISDAfix Claims

By
Bob Van Voris
  • Bank of America, Barclays, Citigroup, Credit Suisse settle
  • Investors claimed banks colluded in setting benchmark rate

Seven banks including Bank of America Corp., Barclays Bank Plc and Citigroup Inc. agreed to pay $324 million to settle claims they conspired to rig the ISDAfix benchmark, which is used in the sale of interest-rate derivatives and other financial instruments.

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