Barclays to pay $2 bn fine for crisis-era fraud: US authorities

Washington (AFP) – British banking giant Barclays has agreed to pay a $2 billion fine to resolve a fraud case involving mortgage derivatives sold in the run up to the 2008 global financial crisis, the US Justice Department said Thursday.

The department said the loans underlying the investment vehicles “were significantly less creditworthy than Barclays represented,” and the company “intentionally misrepresented” key facts.