On top of its recent $410 million settlement for manipulation of energy prices, JPMorgan disclosed last week that the Justice Department was still pursuing criminal and civil investigations in California about its sales of mortgage securities.
Last year, the bank reached a $450 million settlement over the manipulation of benchmark interest rates, and it still faces an investigation into payments by Qatari investors in 2008 at the height of the financial crisis.
The Justice Department, in a high-profile investigation into the manipulation of currency markets, announced a $5.7-billion 5.7-billionthat included rare criminal chargesettlementfive global banks, including New York gianthatincluded Inc. and JPMorare criminalcharges
Land was money, just about the only money the young republic possessed, and in his early chapters Mr. Kluger details the tricky manipulation of land grants and charters to encourage settlement, pay soldiers and keep the federal government solvent.
UBS, based in Zurich, agreed to pay a $1.5 billion fine as part of a settlement last month over the manipulation of crucial benchmarks used to set mortgage and other interest rates.
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HSBC itself is not accused of any wrongdoing in the case, but it did pay a $275 million penalty in 2014 in a civil settlement with the Commodity Futures Trading Commission for manipulation of benchmark rates used in the foreign exchange markets.
And if that weren't enough, the company must pay $53 million to victims of its propane trading scheme the largest manipulation settlement in the history of the CFTC.
Although a few lower-level traders have been charged, the settlements involving large banks over manipulation of Libor have not involved any real costs to senior executives.
Barclays was the first big bank to reach a settlement with the Justice Department over the manipulation of the London interbank offered rate, or Libor, in July 2012.
