Citigroup, JPMorgan Among Banks Fined $1.2 Billion in FX Probe

The video discusses the €1.07 billion fines imposed by EU regulators on banks for participating in foreign exchange cartels. It highlights the historical context of these cartels, the settlements reached, and the implications for banks. The video also explores emerging cartels in bond markets and FX options, and the legal outcomes of related trials, emphasizing the role of collusion and information exchange among banks.

What type of collusion is mentioned in relation to the banks' actions?

What was the role of chat rooms in the context of the banking cartels?