Libor manipulation cost credit unions millions, regulator says

09/24/2013 | Reuters

The US National Credit Union Administration is suing Credit Suisse, UBS, JPMorgan Chase and other global banks regarding alleged manipulation of the London Interbank Offered Rate. The NCUA says five failed credit unions lost millions of dollars because of manipulation of the benchmark. "The credit unions received less in interest income than they were otherwise entitled to receive," according to the lawsuit.

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