Global Banks to Pay Record Fines

Some of the world's biggest banks have agreed to pay a record total of $5.8 billion in fines for illegal manipulation of dollars and euros on the currency market. Attorney General Loretta Lynch observed, "Currency traders at several multi-national banks formed a group they dubbed 'The Cartel.' It's perhaps fitting they chose that name because it aptly describes the brazenly illegal behavior they were engaged in on a near five year basis." We hear more from David McLauglin who reports for Bloomberg.