Arizona nonprofits to get money from Citibank’s $100M settlement on interest rate probes


Citibank has agreed to a $100 million settlement with 42 states, including Arizona, following charges it manipulated interest rate benchmarks, according to Arizona Attorney General Mark Brnovich.

Arizona nonprofits that were affected will get about $2.75 million in restitution, Brnovich said.

The settlement follows allegations Citibank fraudulently and collusively manipulated LIBOR, a benchmark interest rate that affects financial instruments worth trillions of dollars and has widespread impact…

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