Goldman Sachs, JPMorgan, BNP Paribas And Other Big Banks To Pay $46M To Settle Swaps Collusion Case
Portfolio Pulse from Benzinga Neuro
Ten major banks, including Goldman Sachs, JPMorgan, and BNP Paribas, have agreed to pay $46 million to settle a lawsuit accusing them of colluding to stifle competition in interest-rate swaps trading. The settlement, which was submitted to a New York federal court, comes after the judge denied class-action status to the claims, weakening the case. Despite this, the settlement is seen as a significant recovery for the plaintiffs.
June 28, 2024 | 5:38 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Bank of America is part of a $46 million settlement to resolve a lawsuit accusing major banks of colluding in interest-rate swaps trading.
The settlement could negatively impact Bank of America's stock price in the short term due to the financial outlay and potential reputational damage.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Barclays is part of a $46 million settlement to resolve a lawsuit accusing major banks of colluding in interest-rate swaps trading.
The settlement could negatively impact Barclays' stock price in the short term due to the financial outlay and potential reputational damage.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Citigroup is part of a $46 million settlement to resolve a lawsuit accusing major banks of colluding in interest-rate swaps trading.
The settlement could negatively impact Citigroup's stock price in the short term due to the financial outlay and potential reputational damage.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Deutsche Bank is part of a $46 million settlement to resolve a lawsuit accusing major banks of colluding in interest-rate swaps trading.
The settlement could negatively impact Deutsche Bank's stock price in the short term due to the financial outlay and potential reputational damage.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Goldman Sachs is part of a $46 million settlement to resolve a lawsuit accusing major banks of colluding in interest-rate swaps trading.
The settlement could negatively impact Goldman Sachs' stock price in the short term due to the financial outlay and potential reputational damage.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
JPMorgan Chase is part of a $46 million settlement to resolve a lawsuit accusing major banks of colluding in interest-rate swaps trading.
The settlement could negatively impact JPMorgan Chase's stock price in the short term due to the financial outlay and potential reputational damage.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley is part of a $46 million settlement to resolve a lawsuit accusing major banks of colluding in interest-rate swaps trading.
The settlement could negatively impact Morgan Stanley's stock price in the short term due to the financial outlay and potential reputational damage.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NatWest Group is part of a $46 million settlement to resolve a lawsuit accusing major banks of colluding in interest-rate swaps trading.
The settlement could negatively impact NatWest Group's stock price in the short term due to the financial outlay and potential reputational damage.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
UBS Group, which now owns Credit Suisse, is part of a $46 million settlement to resolve a lawsuit accusing major banks of colluding in interest-rate swaps trading.
The settlement could negatively impact UBS Group's stock price in the short term due to the financial outlay and potential reputational damage.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70