Mitt Romney’s campaign says that Bob Diamond, the embattled chief executive of Barclays bank, will no longer be co-hosting a London fundraiser for the presumptive Republican nominee.
Diamond, a Concord, Mass., native who oversees one of the world’s largest banks, has embroiled Barclays bank in a rate-fixing scandal in Britain that is threatening to expand.
The bank’s chairman resigned on Monday, and some in Parliament have been calling on Diamond to quit as well. The government has launched an inquiry to find out if there was any criminal wrongdoing.
The scandal involves manipulating the London Interbank Offered Rate, or Libor, which is used to set the rates for a range of consumer products including mortgages, credit cards, and bank loans. Barclays has already been fined $453 million in a settlement with US and British authorities.
Read more: Barclays head out as Romney London host - POLITICO.com
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