JPMorgan (JPM) & Others to Pay $46M to End Rate Swaps Trial [Yahoo! Finance]
NatWest Group plc American Depositary Shares (NWG)
Company Research
Source: Yahoo! Finance
The banks are accused of colluding to suppress competition in interest-rate swap trading. The investors' lawyers submitted a tentative settlement in Manhattan federal court to end the eight-year-old countrywide dispute. The settlement was filed in New York federal court and plaintiffs have asked the US District Judge Paul Oetken to approve it preliminarily. Bank of America BAC and Citigroup C are also accused in the lawsuit. The other defendants in the case are Barclays, Deutsche Bank, Morgan Stanley, and NatWest Group. Two years ago, Credit Suisse Group AG, agreed to pay $25 million to settle allegations in the case. Now, UBS Group AG, one of the ten companies implicated in the most recent settlement, owns Credit Suisse. Investors, including the Baltimore City and pension funds in Chicago, Los Angeles, and Michigan, accused the banks of attempting to corner swaps trading between 2013 and 2016. The banks have been charged with controlling those markets to control prices and in
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News
- German Banks Fall Out of Top Bund Dealer Rankings for First Time [Yahoo! Finance]Yahoo! Finance
- German Banks Fall Out of Top Bund Dealer Rankings for First Time [BNN Bloomberg (Canada)]BNN Bloomberg
- NatWest (NWG) Signs Agreement to Acquire Sainsbury's Bank [Yahoo! Finance]Yahoo! Finance
- NatWest buys Sainsbury's banking arm, adding £2.5B asset base [Seeking Alpha]Seeking Alpha
- Bank of England accused of ‘penalising the young' by keeping mortgage rates high [Yahoo! Finance]Yahoo! Finance
NWG
Sec Filings
- 6/28/24 - Form 6-K
- 6/28/24 - Form 6-K
- 6/27/24 - Form 6-K
- NWG's page on the SEC website