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Violation Tracker Individual Record

Company: MUFG Bank, Ltd.
Current Parent Company: U.S. Bancorp
Penalty: $750,000
Year: 2023
Date: March 28, 2023
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: MUFG Bank agreed to pay $750,000 to bondholder plaintiffs alleging it was part of a scheme to manipulate the London Interbank Offered Rate interest rate benchmark.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:11-md-02262
Case Name: In Re: Libor-Based Financial Instruments Antitrust Litigation
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: Minnesota
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.