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Legal briefs: Former Citi trader seeks at least $112M in damages from company

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Legal briefs: Former Citi trader seeks at least $112M in damages from company

S&P Global Market Intelligence rounds up a selection of recent legal and regulatory developments in the bank space.

Ex-Citi trader sues company for $112M, says he was framed in forex rigging suit

A former Citigroup Inc. trader sued the company for at least $112 million in damages, alleging Citi framed him for fixing prices on the global foreign exchange market.

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US judge dismisses suit alleging banks rigged Mexico bond sales

U.S. District Judge Paul Oetken in Manhattan, N.Y., dismissed a proposed class-action lawsuit that accused 10 companies, including JPMorgan Chase & Co., Citigroup and Bank of America Corp., of rigging the market for Mexican government bonds, Reuters reported.

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BofA to pay $4.2M to settle racial discrimination charges in hiring practices

Bank of America will pay $4.2 million in back wages and interest to settle allegations of racial discrimination against job applicants.

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Banc of California to pay about $20M to settle suits alleging fraudster ties

Banc of California Inc. agreed to pay $19.8 million through its insurance carriers to settle various class-action suits alleging it did not disclose ties between its management and convicted securities fraudster Jason Galanis.