Saturday, August 23, 2014

Argentina: Two Billion Dollar Claim Against Rabobank

A claim against Rabobank has been brought by an Argentinian financial consumer organization due to the bank’s manipulation of the Libor rate (the standard rate on which fluctuating interest rate is based).  Consumidores Financieros (CF) has brought a case before the Buenos Aires court in April.  Rabobank has already announced that in the US about 40 claims have been brought against it.  The bank has admitted to the manipulation and has already paid 774 million Euro in out-of-court settlement fines.

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