5 Major Banks Agree to $5 Billion in Foreign Currency Market Settlements

Five of the world’s largest banks have agreed to pay a combined $5 billion to the Justice Department and other regulatory agencies to settle foreign currency market allegations.

As part of the settlement, Barclays, JPMorgan Chase, Royal Bank of Scotland Group, Citigroup, and UBS will plead guilty and pay what are reportedly among the largest fines in history.

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