WICHITA, Kan. – The National Credit Union Administration this evening filed a civil suit against 13 international banks, including J.P. Morgan Chase, alleging violations of federal and state anti-trust laws by manipulation of interest rates through the London Interbank Offered Rate (LIBOR) system.

The manipulation of LIBOR, the benchmark for setting interest rates around the globe, resulted in a loss of income from investments and other assets held by five failed corporate credit unions: U.S. Central FCU, WesCorp FCU Members United FCU, Southwest FCU and Constitution Corporate FCU, NCUA alleges. Corporate credit unions act as bankers' banks that pool deposits and investments from the nation's 6,800 regular credit unions. 

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