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Banks must face class action over interest rate swaps: US judge

Published Mon, Jul 31, 2017 · 09:50 PM
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New York

A US judge on Friday said investors may pursue part of their nationwide antitrust lawsuit accusing 12 of the world's biggest banks of conspiring to rig the US$275 trillion market for interest rate swaps.

US District Judge Paul Engelmayer in Manhattan said 11 of the banks, including Bank of America Corp and JPMorgan Chase & Co, must defend against claims that from 2013 to 2016 the…

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