Banks could face fines of $4bn from US DoJ


Four banks could each be faced with penalties of $1 billion from the US Department of Justice (DoJ) for their role in misconduct surrounding currency markets, according to reports.

Barclays, Citi, JP Morgan and Royal Bank of Scotland (RBS) are the banks being pursued most vigorously by the US regulator for criminal activity, say reports, and being forced to plead guilty to the charges.

UBS, which last week settled its civil case in the US over the same charges for $135 million, is understood to

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