Barclays is set to pay $50 million to settle a U.S. currency lawsuit. It is claiming that Barclays rigged its foreign exchange trading system to turn down client orders that the British Bank believes to be unprofitable.
The U.S. Justice Department is seeking about $1 billion each from global banks being investigated for manipulation of currency markets, Bloomberg reported on Friday, citing people familiar with the talks.
JPMorgan Chase & Co, the largest U.S. bank, agreed to pay $99.5 million to settle its portion of an antitrust lawsuit in which investors accuse 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market.
New York's top law enforcer on Wednesday accused Barclays Plc of defying his subpoenas in a probe of high-speed trading in its private "dark pool," and moved to expand his lawsuit accusing the British bank of fraud.
