A 65-year-old American woman who** lost her home** in the credit crunch is leading a class-action suit against 12 of the world’s major banks for their part in the financial crisis.
Annie Bell Adams claims banks including Barclays, RBS and Lloyds, manipulated the Libor rates to make mortgage repayments more expensive than they should have been.
The suit alleges the Libor - the rate at which banks lend to each other - was artificially changed at times when it would have a big impact on adjustable mortgage rates, ‘unjustly enriching’ the bankers at the cost of mortgage-holders losing their homes.
