The Financial Conduct Authority's ("FCA") announced that LIBOR the London Interbank Offered Rate, which serves as a gauge for the cost to lend money and set interest rates, would be phased out by the end of 2021. With two years to go, there are countless questions the financial world has yet to resolve.
Wells Fargo reached a record settlement today with U.S. shareholders after employees created over 1.5 million false accounts and insurance policies under customer's names. Twenty Wells Fargo executives and directors will pay for the damages, but the government and consumers' faith has been shaken.
What is the status of this case?
This settlement is separate but...