MBS dealer banks sued in class action for price collusion

A US state official brought a class action suit on Tuesday against 19 dealer banks for colluding on secondary market pricing and overcharging investors who bought agency debt between 2009 and 2014.

  • By Alexander Saeedy
  • 19 Mar 2019

According to the filing with the Southern District Court of New York, dealer banks used their position in the OTC markets to overcharge customers when they bought agency debt and undercut them when they sold.

“The plaintiff obtained pricing data for over 13,117 unique FFBs [Fannie and ...

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