Lawyers

• Seven Banks Settle ISDAfix Scam-Related Private Lawsuit For $324 Million

  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.

• Pimco, others sue Citigroup over billions in mortgage debt losses

  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 tentatively agrees to pay $270 million to settle lawsuit: source

  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.

• U.S. court authorizes Citigroup to process Argentine bond payments

  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.

• Citigroup sues ex-Goldman partners' firm over Swiss franc losses

  Citigroup Inc has sued a Connecticut firm founded by two former Goldman Sachs partners for $25 million over losses incurred during the unexpected surge in the Swiss franc in January.

• Argentina dealt setback by U.S. judge over Citigroup bond payments

  A federal judge on Thursday said Citigroup Inc (C.N) cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it attempts to re-enter international debt markets.

• Citigroup to shutter LavaFlow stock trading venue

  Citigroup Inc (C.N) is shutting down its alternative stock trading venue LavaFlow, the bank said on Tuesday, at a time when regulatory scrutiny has increased around broker-run trading platforms, forcing banks to rethink the costs.

• U.S. Justice Dept collects record $24 billion in penalties in fiscal 2014

  The U.S. Department of Justice collected a record $24.7 billion in penalties from fraud and other cases in fiscal year 2014, the agency said on Wednesday, as fines against banks for financial misconduct soared. Collections from civil and criminal actions, including money collected on behalf of other agencies, was $8 billion in 2013, and $13 billion in 2012.

• U.S. court tosses Argentina, Citigroup appeal in bond case

  A U.S. appeals court on Friday dismissed an appeal by Citigroup Inc (C.N) and Argentina of a judge's order blocking the bank from processing payments on $8.4 billion in bonds issued under the country's local laws following its 2002 default.

• Citigroup agrees to settle wrongdoing stemming from mortgage-backed securities in $7 B deal with Justic Department

  The $7 billion settlement is touted to be the biggest monetary agreement in settling a US government probe linked to the 2008 financial crisis. Apart from the cash fine of $4.5 billion, the agreement also includes consumer relief pegged at $2.5 billion, the Wall Street Journal reported.

• Appeals court revives Citigroup-SEC accord over risky mortgage-backed securities

  The three-judge panel of the US Court of Appeals in New York has ordered a district judge to review the settlement between Citigroup Inc and the Securities and Exchange Commission to settle claims of investor fraud after the latter rejected it in a 2007 decision, Bloomberg reported.

• Citigroup fires 11 people over $400 M Banamex loan fraud

  An employee memo signed by Citigroup Inc Chief Executive Officer Michael Corbat revealed that 11 people, including executives, were fired in relation to the $400 million Banamex loan fraud.

• UK regulator says former ICAP brokers conspired with trader to rig Japanese Libor

  The UK Serious Fraud Office said today via a public release that Daniel Wilkinson, Colin Goodman and Darrell Read, who formerly worked as brokers for ICAP, had conspired with trader Tom Hayes in rigging Libor rates tied to the Japanese yen.