JP Morgan Chase is to pay $228m (£143m) to settle claims it rigged transactions of municipal bonds.
The deal, the bank's second fraud payout in a month, was reached with regulators, tax authorities and federal authorities who accused it of fixing bids for state and municipal contracts on 93 transactions, reports the BBC. It comes after the bank agreed a $154m payout to settle charges of misleading buyers of its mortgage investments. The bank had agreed to co-operate with the US Justice Department and blamed former employees for the offences. JP Morgan's settlement comes after Bank of America and Switzerland's UBS separately settled similar charges against them in the US for $137m...
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