BAML settles lawsuit and doubles FX revenues
US bank is the third to pay up
Bank of America Merrill Lynch (BAML) has settled its portion of the US class action civil litigation over the manipulation of foreign exchange benchmarks.
The US bank is the third to settle the lawsuit with legal firm Scott+Scott, co-counsel for the plaintiffs, as it follows the lead of UBS and JP Morgan, which settled earlier this year for $135 million and $99.5 million, respectively.
The terms of BAML's settlement have not been disclosed.
"This latest settlement sends a message to Wall Street
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