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Banks accused of defrauding homeowners by rigging Libor

Posted: Saturday, October 20th, 2012 @ 2:17 pm by mick@sfresidence.com
Filed under: Consumer Protection

CNN Money – A class action complaint filed earlier this month in New York federal court claims borrowers with adjustable-rate mortgages based on the London Interbank Offered Rate, or Libor, paid more than they rightfully should have due to the rate’s manipulation by the global banks involved in setting it.

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