# The US Supreme Court on Monday turned away an appeal from units of eight banks.

*fintech · news · 2026-04-20 · Spokane Spokesman-Review*

## Key points

- The US Supreme Court declined to block a class action lawsuit against major banks over VRDO price-fixing.
- The suit alleges Bank of America, JPMorgan, and others inflated interest rates on municipal bonds.
- Potential settlement for the federal case could reach $770 million, with $12 billion sought in damages.
- Related state court cases under the US False Claims Act could settle for $400 million.

**Companies:** Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc., Morgan Stanley, Goldman Sachs Group Inc., Barclays Plc, Royal Bank of Canada, Wells Fargo & Co.
**Countries:** United States

[Read the full story on Spokane Spokesman-Review](https://www.spokesman.com/stories/2026/apr/20/banks-rejected-by-supreme-court-in-muni-bond-price/)

---

Canonical: https://newsio.io/n/683d35b1-3afb-4818-b1fd-ed2d1e26ee4d/the-us-supreme-court-on-monday-turned-away-an-appeal-from-units-of-eight-banks-m
Summarized by Newsio from Spokane Spokesman-Review. https://newsio.io/how-it-works