Lloyds Bank Fires Eight After Rate Rigging Probe

Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) said on Monday it had terminated eight individuals and clawed back about $4.9 million in unpaid bonuses after it was fined by regulators over manipulation of global benchmark interest rates. However, the eight individuals still have the right to appeal the bank’s decision to dismiss them. Lloyds fined $370 million As reported earlier, Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY) was handed a joint $370 million fine back in July by the UK Financial Conduct Authority and U.S. regulators for its part in a global interest rate rigging scandal. The bank became the first…