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Fannie Mae Sues 9 Banks Over Libor

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October 31, 2013 AT 8:26 PM
Fannie Mae sued nine of the world's largest banks on Thursday, accusing them of colluding to manipulate interest rates and seeking more than $800 million of damages. In a complaint filed in Federal District Court in Manhattan, Fannie Mae, the government-controlled mortgage company, accused the banks of conspiring for many years to suppress the London Interbank Offered Rate , known as Libor, including during the 2008 financial crisis.