Banks 'set for record €1.7 billion fine' over rate-rigging

The European Commission is set to fine a group of banks a record €1.7 billion (£1.4 billion) for rigging interest rates, Reuters reported, citing a source.

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Banks' £1.4bn rate fixing fine

Eight major banks have been fined a combined 1.7 billion euros (£1.4 billion) by the European Commission over rigging benchmark interest rates.