LIBOR Scandal http://www.kunc.org en UBS To Pay $1.5 Billion For 'Routine And Widespread' Rate Rigging http://www.kunc.org/post/ubs-pay-15-billion-routine-and-widespread-rate-rigging Swiss banking giant UBS AG has agreed to pay $1.5 billion in fines to regulators in the U.S., Britain and Switzerland for its part in a scheme to manipulate the London interbank offered rate (LIBOR), which is used to set rates on contracts around the world.<p>The bank <a href="http://www.ubs.com/global/en/about_ubs/about_us/news/news.html/en/2012/12/19/20121219a.html" target="_blank">confirmed the news in a statement</a>. Wed, 19 Dec 2012 12:18:00 +0000 Mark Memmott 37844 at http://www.kunc.org UBS To Pay $1.5 Billion For 'Routine And Widespread' Rate Rigging A Bad Day For The Royal Bank Of Scotland http://www.kunc.org/post/bad-day-royal-bank-scotland RBS, the Royal Bank of Scotland, is already in a tough spot. It's among several banks being investigated for allegedly rigging the interbank lending rate known as LIBOR. As Steve Inskeep reports, Friday it warned that it faced several potential lawsuits over those allegations. Fri, 03 Aug 2012 09:14:00 +0000 31451 at http://www.kunc.org