Seven world’s largest banks have announced on Tuesday settling a private lawsuit for $324 million filed in connection with ISDAfix scam. The settlement still requires court approval to get effective. Several other banking giants are yet to settle related lawsuits for the crimes committed during 2009 to 2012.
Pacific Investment Management Co and other investors have sued Citigroup Inc over the bank's alleged failure to properly monitor toxic securities backed by more than $13.8 billion of mortgage loans, resulting in $2.3 billion of losses.
Goldman Sachs Group Inc has tentatively agreed to pay about $270 million to settle a lawsuit by investors, according to a source familiar with the matter.
Citigroup Inc said it has been authorized by a U.S. judge to process two Argentine debt payments, the bank said, which could ease tensions between the bank and the default-hit nation.
