Because few credit unions tie product rates to LIBOR, they won't reap the slashed fee benefits.
The NCUA filed an antitrust lawsuit Sept. 23 against 13 international banks involved in the Libor rate scandal.
The NCUA late Monday said it filed an antitrust lawsuit against 13 international banks involved in the Libor rate scandal.
U.S., Britain may file criminal charges this summer against Barclays employees that allegedly rigged Libor rates, according to the Wall Street Journal.
Sens. Chuck Grassley of Iowa and Mark Kirk of Illinois take Treasury secretary to task over non-action in LIBOR manipulation scandal.
The Libor price-fixing scandal, in which the London-based bank and financial services company Barclays manipulated Libor submissions to give a healthier picture of the bank’s credit quality in 2007 and 2008, has had little material effect on credit unions, according to industry experts. However, corporates that owned Libor-indexed assets during...
Joint probe revealed that Barclays traders purposely manipulated the London interbank offered rate, known as Libor, for their own financial benefit.