Sep
13
Banks to Settle With Investors in Suit Over Financial Crisis
ByLarge banks are preparing to pay $1.865 billion to settle accusations that they conspired unfairly to control a derivatives market that stood at the center of the financial crisis, a lawyer suing the banks said in court on Friday.
The banks have faced public criticism since the financial crisis for the opaque manner in which their traders bought and sold credit default swaps, a type of financial contract that allows investors to speculate and hedge against losses and that figured prominently in the crisis…
Banks to Settle With Investors in Suit Over Financial Crisis
