JPMorgan to HSBC Accused by EU Over Rate-Rigging Cartel
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JPMorgan Chase & Co., HSBC Holdings Plc and Credit Agricole SA were accused today by the European Union’s antitrust arm of colluding to manipulate interbank lending rates.
The trio received antitrust complaints alleging they participated in a cartel to rig Euribor. The so-called statement of objections is the next step in the EU enforcement process after the lenders dropped out of settlement talks last year.