British bank actions in Libor scandal called 'disgraceful'

CNN
By the CNN Wire Staff
August 19, 2012 -- Updated 0252 GMT (1052 HKT)

London (CNN) -- A British parliamentary report slammed Barclays bank on Saturday for its "disgraceful" actions that led to a rate-rigging scandal.

The Treasury Select Committee issued a report after recent hearings over the scandal. Barclays was fined $450 million by British and American regulators after some of its traders purposely manipulated its interest rates as part of Libor, or London Interbank Offered Rate. The scandal also led to the resignation of Bob Diamond, its chief executive.

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