Barclays Bank agrees to forfeit $298 million after violations
Barclays Bank PLC, a United Kingdom corporation headquartered in London, has agreed to forfeit $298 million to the United States in connection with violations of the International Emergency Economic Powers Act and the Trading with the Enemy Act.
British bank Barclays, seeking to fix its battered reputation caused by last year's Libor rate-rigging scandal, said Wednesday that it returned to profit in the first quarter with net earnings of 839 million pounds after a loss in the first three months of last year.