Florida Looks at Entering Libor Manipulation Case

Submitted by Anonymous on July 12, 2012 - 7:28am

Florida Attorney General Pam Bondi is among a handful of state attorneys general trying to determine if they have jurisdiction over banks found manipulating lending benchmarks following British-based Barclays settlement with both U.S. and U.K. authorities, according to Reuters.

According to Reuters, A spokesman for Florida Attorney General Pam Bondi said his office is aware of the recent settlement reached by British bank Barclays with U.S. and U.K. authorities and will look at the case to the extent that our office might have any jurisdiction in the matter.

Barclays agreed to pay $453 million, admitting it lied in its Libor -- London interback offered rate -- submissions regarding borrowing costs.