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Barclays CEO quits amid rate-rigging scandal
New York's financial district: Interest rates remain at an all-time low, and big banks are eagerly trying to profit on their ability to borrow money for free.
New York's financial district: Interest rates remain at an all-time low, and big banks are eagerly trying to profit on their ability to borrow money for free.
Peter Adams/Corbis
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obert Diamond, the chief executive of British banking giant Barclays, stepped down Tuesday, the latest and largest casualty of a global scheme to fix interest rates. Barclays Chairman Marcus Agius announced his own departure on Monday. Barclays, Britain's third-largest bank, was fined $453 million by U.S. and UK regulators for its role in the scandal; about a dozen other banks are still under investigation. "The external pressure placed on Barclays has reached a level that risks damaging the franchise — I cannot let that happen," Diamond said in his resignation statement.

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