U.S. Department of Justice wants five banks to settle forex case by mid-May -FT

April 21, 2015 12:18 AM

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April 20 (Reuters) - The U.S. Department of Justice wants five banks, including JPMorgan Chase & Co and Barclays Plc, to reach a joint "mega settlement" to allegations they manipulated foreign exchange markets, the Financial Times reported, citing unidentified people familiar with the case.

The settlement would see some institutions pay about $1 billion each and is scheduled for mid-May, it said. The settlement talks also include Citigroup Inc, Royal Bank of Scotland Group Plc and UBS Group AG. (on.ft.com/1DFRUjx)

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