Five Banks To Pay Billions Over Currency Manipulation

JPMorgan Chase, Barclays, Royal Bank of Scotland Group, Citigroup and UBS have agreed to plead guilty to criminal charges and pay more than $5 billion in total penalties relating to a U.S. investigation into whether the banks manipulated foreign currency rates.

The fines are on top of more than $4 billion in penalties that many of the same banks paid in November over similar charges. Matt Klein of the Financial Times joins Here & Now’s Jeremy Hobson with details.

Guest

• Matt Klein, reporter for the Financial Times’ FT Alphaville. He tweets @M_C_Klein.

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