Major banks hit back at rate-rigging class action, argue claims are barred

Competition & Consumer Protection 2022-04-04 9:10 pm By Cindy Cameronne | Sydney

Five major banks including JPMorgan, Citibank and UBS have denied all wrongdoing in a class action accusing them of entering a cartel agreement to rig foreign exchange rates and argue the claims were brought out of time or are barred by settlements in overseas proceedings.