fintech / news / / Spokane Spokesman-Review
The US Supreme Court on Monday turned away an appeal from units of eight banks.
The US Supreme Court declined to block a class action lawsuit against major banks over VRDO price-fixing.
KEY POINTS
- 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
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