Five big banks face criminal charges and $6b fine over currency rigging

(Before It's News)

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Five big banks face criminal charges and $6b fine over currency rigging –JPMorgan and Citigroup would be the first major US banks to plead guilty to criminal charges in decades. | 20 May 2015 | Five of the world's biggest banks are expected to be hit with a combined bill of more than $US5 billion ($6.3 billion) and criminal charges on Wednesday in a settlement with US and British authorities over rigging of currency markets. US banks JPMorgan and Citigroup and Britain's Barclays and Royal Bank of Scotland are expected to plead guilty to criminal charges with the US Department of Justice related to forex manipulation, people familiar with the matter said. It would be unprecedented for the parent companies or main banking arms of so many major banks to plead guilty to criminal charges in a coordinated action.

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