Banks Pay $86M Over Bond Rigging | Business and Finance News

Eight major global banks, including Bank of America and HSBC, are settling a multi-year lawsuit for $86.4 million after being accused of rigging Mexican government bond prices from 2006 to 2017. Investors, backed by pension funds and supported by chat transcripts, claimed the banks colluded to suppress prices when buying and inflate them when selling. While the banks deny wrongdoing, this settlement resolves all remaining claims — part of a growing wave of global lawsuits targeting financial market manipulation. Combined with prior payouts from Barclays and JPMorgan Chase, total payments could reach $107.1 million, with lawyers potentially taking up to $28.8 million — nearly a third — highlighting the intense scrutiny on big banks’ conduct. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/6e172959aff0faf3