Deutsche Bank in $2.5 billion settlement over interest rate manipulation

April 23, 2015 12:54 PM

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Deutsche Bank will pay $2.5 billion to settle charges it conspired to manipulate global interest rate benchmarks, U.S. and U.K. regulators announced Thursday.

The U.S. Justice Department said that DB Group Services, a subsidiary of the German bank, agreed to plead guilty to wire fraud. However, the Justice Department said it entered into a "deferred prosecution" agreement with Deutsche Bank over its role in the scheme, meaning that the charges will be res...

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