Regulator sues 13 banks in Libor rate-fixing case for selling nearly $2.4 billion in ‘faulty securities’ to credit unions

The US credit union regulator has filed an anti-trust lawsuit against 13 major international banks as part of the global crackdown in the Libor rate-rigging scandal. The National Credit Union Administration (NCUA) said it aims to recover some of the funds lost by five corporate credit unions it...