Citigroup, Barclays Close to Settling Forex Lawsuit


"Citigroup Inc. and Barclays PLC are expected to pay as much as $800 million combined to settle a lawsuit with investors who say the banks manipulated foreign-exchange rates, according to people close to the situation.

The expected settlements would come apart from continuing negotiations the two banks and a number of their peers are conducting with the Justice Department and other regulators over similar allegations. If finalized, the payments would add to the fallout from the multiyear, world-wide foreign-exchange probe that has already cost banks billions of dollars in payouts and fines."

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