Goldman Sachs, JP Morgan and Citigroup have agreed to pay $39.25 million to settle a Canadian currency market manipulation class action.

The settlements, if approved by a court, will remove those banks from a $1-billion class action that alleges several large financial institutions conspired to rig foreign exchange markets using electronic chat rooms with names such as “The Cartel,” “The Bandits Club” and “The Mafia.” 212 more words