LIBOR Index Adjustable Rate Mortgage Litigation

Baron and Budd is currently pursuing a class action lawsuit against multiple banking institutions for purposefully miscalculating the London Interbank Offered Rate (LIBOR) index on adjustable rate mortgages. The LIBOR index is tied to numerous types of loans and impacts a large percentage of U.S. adjustable rate mortgages.

The banking institutions listed in the LIBOR fraud litigation include:

  • Bank of America Corporation
  • Barclays Bank PLC
  • Citigroup Inc.
  • Citibank N.A.
  • Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.
  • Credit Suisse Group, AG
  • Deutsche Bank AG
  • Holdings PLC
  • HSBC Bank PLC
  • JPMorgan Chase & Co.
  • Chase Bank USA
  • Royal Bank of Canada
  • Royal Bank of Scotland
  • UBS AG
  • West LB AG

The pending lawsuit filed by Baron and Budd alleges that banking industry insiders manipulated the Libor index in order to increase profits on adjustable rate home mortgages and other types of loans. Because of the bank’s alleged negligent practices, countless individuals could have paid more interest than they should have on their home mortgages. A LIBOR class action lawsuit could result in billions in damages for consumers affected by this type of mortgage fraud.

Attorneys Daniel Alberstone, Roland Tellis, and Mark Pifko are currently investigating the banks identified in the case. Our firm would like to speak individuals who entered into an adjustable rate mortgage that is tied to the LIBOR index between 2006 and 2009.