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Criminal charges could soon be on the way in the growing Barclays interest rates setting scandal -- Peter Bartz is all already joins us right now -- from DC.
What are officials saying about the investigation today here.
Well they're gonna -- -- Justice Department official as confirming.
The criminal investigation a spokesperson saying quote.
The department's criminal division has an ongoing criminal investigation.
Into other institutions and individuals -- are of course investigating -- -- its benchmark rate that banks use.
To set rates for trillions of dollars in mortgages credit card student loans and more.
Barclays settled civil charges in the case three weeks ago for Ford and fifty billion dollars a government official says that -- the Justice Department is ramping up.
They criminal investigation -- gonna come.
How many banks could be facing criminal charges -- -- a government official confirms a New York Times report this weekend that about ten US banks and at least two European banks are targets in the civil and criminal investigations.
Citigroup is one of them it just released its second quarter earnings.
In a conference call that still going on right now the bank says it continues to cooperate with the regulators in the Libor case but declined.
Further comment -- -- big story for the banks big story for the regulators -- -- -- so -- get on top of the thank you Peter.