Schwab Sues BofA


     SAN FRANCISCO – Charles Schwab Bank accuses Bank of America and a slew of other giants of conspiring to depress the LIBOR rates on “trillions of dollars’ worth of financial instruments” since 2007, to understate the true cost of borrowing.



     LIBOR is the London InterBank Offered Rate. Here are the defendants: Bank of America Corporation; Bank of America NA; Credit SuisseGroup AG; JPMorgan Chase & Co.; HSBCHoldings PLC; BarclaysBank PLC; Lloyds Banking Group PLC; WestlbAG; UBSAG; Royal Bank of Scotland Group PLC; Deutsche Bank AG; Citigroup Inc.; CitibankNA; DeutscheBank Securities; Banc of America Securities LLC; Credit SuisseSecurities (USA) LLC; UBS Financial Services Inc.; JPMorgan Securities Inc.; CitigroupGlobal Markets Inc.; CitigroupFunding Inc.; RBSSecurities Inc. fkaGreenwich Capital Markets Inc.; Bank of Scotland PLC; Credit SuisseHoldings (USA) Inc.; Chase Bank USA; JPMorgan Chase Bank NA; JPMorgan Securities LLC; HSBCBank USA; HSBCFinance Corporation; HSBCSecurities (USA) Inc.; Barclays US Funding Corp.; Lloyds TSB Bank PLC; UBSFinance (Delaware) Inc.; UBSFinancial Services Inc.; UBSSecurities LLC; Deutsche Bank Financial LLC; Citizens Bank NA; Citizens Bank of Massachusetts; Citizens Bank of Pennsylvania; RBS Citizens NA.

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