Homeowner eligible for compensation for Libor fixing?

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Homeowner eligible for compensation for Libor fixing?

Postby FNK » Fri Mar 15, 2013 9:01 pm

A letter came in the mail from a "dial-a-lawyer" claiming that I may be eligible for compensation for Libor fixing.

(Forum rules note: the specific actionable issue is whether I lost money and entitled to compensation. Let's not discuss the aspects of the scandal that would get the thread locked.)

The letter mentioned HSBC, but my Libor-indexed ARM is with Citi.

I don't trust letters like that one, but it piqued my curiosity. Google didn't give straight answers (except that I probably benefitted, not lost, unless Libor was artificially inflated on the date of the reset).

So, wise Bogleheads, do you think there's anything actionable here?

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Re: Homeowner eligible for compensation for Libor fixing?

Postby Valuethinker » Sat Mar 16, 2013 3:39 am

Bizarrely there might be. Search around for lawyers who seem to have a record in this area (class action) who are putting together suits.

we are a long way from having court settlements on this, btw. Right now it's still regulators and criminal charges.

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