Settlement Agreement Between Plaintiff States and Citibank (June 2018)
Forty-two plaintiff states reached a $100 million settlement with Citibank for fraudulent conduct involving interest rate manipulation that had a significant impact on consumers and financial markets around the world. UBS’ fraudulent conduct involved the manipulation of LIBOR (the London Interbank Offered Rate). LIBOR is a benchmark interest rate that affects financial instruments worth trillions…
Settlement Agreement Between Plaintiff States and UBS (Dec. 21, 2018)
Forty plaintiff states reached a $68 million settlement with UBS for fraudulent conduct involving interest rate manipulation that had a significant impact on consumers and financial markets around the world. UBS’ fraudulent conduct involved the manipulation of LIBOR (the London Interbank Offered Rate). LIBOR is a benchmark interest rate that affects financial instruments worth trillions…
U.S. and Florida v. Barnett Banks, Inc. and First Florida Bank, Inc. (1992)
As part of a negotiated joint consent decree with the U.S. Department of Justice (DOJ), the State of Florida sought to enjoin the merger between Barnett Banks, Inc. (Barnett) and First Florida Bank, Inc. (First Florida), alleging that the proposed merger would result in less competition in the financial institution industry.
U.S. and Florida v. NationsBank, Inc. and Barnett Bank, Inc.
As part of a negotiated joint consent decree with the U.S. Department of Justice (DOJ), the State of Florida sought to enjoin the merger between NationsBank, Inc. (NationsBank) and Barnett Bank, Inc. (Barnett), alleging that the merger would substantially impair competition in the banking industry.
In the Matter of Settlement Agreement with U.S. Bancorp.
U.S. Bancorp acquired all assets and branch offices of West One Bancorp. The settlement agreement required that U.S. Bancorp divest within 180 days designated branch offices including their assets and loans.
Settlement Agreement: Bank America
Bank America, the owner of Seattle First National Bank, the largest bank in Washington acquired Security Pacific the second largest bank in Washington. Settlement agreement required divesture of specific Security Pacific including branch offices, assets and loans
In the Matter of Chittenden and Vermont National Bank
Merger of two largest banks in Vermont approved after divestitures.
Merger of CorestatesFinancial Corp./Meridian Bancorp
Joint investigation with Department of Justice of merger of two banks. Merger approved with divesitutres.
In the Matter of Wells Fargo/First Interstate Bancorp Merger
Joint investigaiton and agreement resolving competitive concners in merger of two large California banks.
In the Matter of Fleet Bank and Shawmut Bank
Plaintiff state reached agreement that allowed merger of two banks with branch divestitures and commitment to community loans.
