UBS (UBS) doesn't just face a fine of $1B for rigging Libor and other inter-bank rates, it will...

|About: UBS Group AG (UBS)|By:, SA News Editor

UBS (UBS) doesn't just face a fine of $1B for rigging Libor and other inter-bank rates, it will reportedly become the first major bank in over a decade to admit criminal wrongdoing. A settlement could come on Monday. Meanwhile, prosecutors didn't indict HSBC (HBC) for money laundering due to fears about the effect on the financial system. Senator Charles Grassley was not impressed.