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UBS, Barclays Bank, Citigroup, JPMorgan Chase & Co., the Royal Bank of Scotland and Bank of America Corp. fined for “unsafe” FX practices.
The Federal Reserve has imposed $1.8 billion in fines, “among the largest ever assessed,” against UBS, Barclays Bank, Citigroup, JPMorgan Chase & Co., the Royal Bank of Scotland (RBS) and Bank of America Corp. (BofA) for what Fed officials call “their unsafe and unsound practices in the foreign exchange (FX) markets.” The dollar amounts for...
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