Deutsche Bank Pays $2.5 Billion Fine for Interest Rate Rigging

‘Deutsche Bank has agreed to pay out a record $2.5 billion fine to settle U.K. and U.S. government investigations into allegations of fixing global interest rates, just months after six other banks paid out $4.3 billion on similar charges. Activists say that the banks should have faced criminal charges.

“The question remains: does the punishment fit the crime?” writes Angela McClellan of Transparency International. “We think not: why allow a company to settle when they fail to cooperate with the investigation? Also, given the gravity of the situation a big fine won’t do, criminal charges should be considered as well.”’

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