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…
