When we look back at the year 2012, we may one day consider it the year of bank lawsuits. There have been literally thousands of lawsuits filed against the nation’s largest banks. That lawsuits have stemmed from a myriad of issues that arose during and since the financial crisis, and have occurred in record proportions. The lawsuits cover everything from laundering money for Iran, to manipulating interest rates paid by consumers and businesses, to improperly foreclosing on homeowners. In total,... 

The LIBOR rate fixing scandal that rocked financial markets earlier this year and cost Barclays Chief Executive Bob Diamond his job now seems to be appraoching other LIBOR market participants as well. European banks UBS (NYSE: UBS) and Royal Bank of Scotland (NYSE: RBS) have suspended traders in Singapore as regulators investigating Libor-rigging turn their attention to the rates used to set prices on foreign exchange derivatives. Royal Bank of Scotland, based in Edinburgh, has put Ken Choy, a director... 

The LIBOR scandal that rocked global financial markets this past summer has largely disappeared from the news, though the investigations continue and may soon entwine more banks. After the allegations of price fixing in the LIBOR market emerged, it quickly cost Barclays CEO Bob Diamond his job, and the vitriol subsided quickly thereafter. Now, a state investigation into whether some of the world’s biggest banks manipulated key global interest rates has widened to 16 institutions, according...