Major bank investigation - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Major bank investigation

NewsChannel 10

The European Commission has launched two investigations into some of the world's biggest banks.

The EU says it has indications that 16 banks acted as dealers in the credit default swap market, including JP Morgan, Bank of America, Wells Fargo and Citigroup.

The commission is also investigating whether some of those banks received preferential treatment, such as lower fees and profit-sharing deals.

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