BARCLAY'S: ANOTHER BANK SCANDAL

"Barclay's chairman, Marcus Agius, steps down after price-fixing bank rates scandal."

Agius, the bank's chairman of the board, announced his resignation today (Monday, July 2nd, 2012) after accepting and announcing his responsibility for a price-fixing scandal that saw the London-based bank slapped with trans-Atlantic fines of $453 million.

Agius was paid 751,000 pounds ($1.18 million) by Barclay's bank in 2011.

U.S. and British agencies imposed the fines on Barclays for submitting false data on interbank borrowing rates between 2005 and 2009. The bank's executives have been under fire since then and the calls are growing for chief executive Bob Diamond to quit, too.

Several other major banks including Citigroup, Royal Bank of Scotland, and HSBC are also being investigated for possible manipulation of London interbank offering rate.

[bing.com/news, 07/02/2012/Barclay's Bank News; Associated Press (AP), 07/02/2012, 'Barclay's chairman steps down after rates scandal"; www.omaha.com/article/20120702/AP(London)]