Banks Challenge EU's €371M Bond Trading Cartel Ruling

By Najiyya Budaly (September 13, 2021, 5:17 PM BST) -- UniCredit, Bank of America and German lender Portigon have appealed the European Commission's decision that they and four others illegally colluded to fix the price of government bonds, leading to a total of €371 million ($438 million) in fines.

Three lenders have filed separate actions against the commission at the General Court of the European Union, pictured, according to an official notice. (iStock) The three banks have filed separate actions at the European Union's General Court against the commission, according to a notice published on Monday in the bloc's official journal.

In a wide-ranging case, the bloc's executive arm fined UniCredit,...

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