JEFFERSON CITY, MO (KFVS) - Missouri Attorney General Josh Hawley has announced a $100 million multistate settlement with Citibank.
It is for fraudulent conduct involving U.S. Dollar (USD) LIBOR. The LIBOR benchmark interest rate that affects financial instruments worth trillions of dollars and has a widespread impact on global markets and consumers.
"Citibank manipulated interest rates for their own benefit and to the detriment of Missouri retirement and non-profit funds." Hawley said. "This settlement puts wrongfully obtained money back into those public funds."
The investigation was conducted by a working group of 42 State Attorneys General offices.
Other states joining New York in the Citibank settlement include: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah, Virginia, Washington, West Virginia and Wisconsin.