Municipal Bond Interest-Rate Coordination Lawsuit Against Banks
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Royal Bank of Canada and other banks · Variable rate demand obligations and municipal bond remarketing services · Ongoing Litigation
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About this case
A class action brought by municipal issuers alleges that Royal Bank of Canada and other banks coordinated the setting of interest rates for variable rate demand obligations, causing cities and other issuers to pay higher rates to investors. The class was certified, and an appeals court rejected the banks’ challenge to that certification in April 2026; the litigation is ongoing.
Case overview
- Defendant company
- Royal Bank of Canada and other banks
- Product or service
- Variable rate demand obligations and municipal bond remarketing services
- Court case number
- 19-cv-01608
- Case status
- Ongoing Litigation
- Lawsuit type
- Antitrust
- Reported harm
- Competition Pricing
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Sources
Public reporting associated with this case.
- Municipal Bond Interest-Rate Coordination Lawsuit Against Banks
Yahoo! Finance ·