Reuters) - Banks facing a barrage of lawsuits from customers accusing them of interest-rate rigging argued on Tuesday that the cases should be dismissed, saying there is no evidence of antitrust or other violations.
Plaintiffs including community banks and local governments have sued Bank of America (BAC.N), JPMorgan Chase & Co (JPM.N) and others for allegedly manipulating the London Interbank Offered Rate, commonly known as Libor.
Libor, which has been the focus of a global investigation by regulators, is used to set interest rates on more than $350 trillion of securities from mortgages to complex derivatives.
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