Lloyds TSB

London, UK: (Aug15-07) A class action lawsuit was brought against British bank Lloyds TSB, by class members in the US. The lawsuit claimed Lloyds TSB was involved in a $100 million foreign currency scam. Lloyds TSB stated that it had reached a settlement in the class action case of Ralph Gonzales et al. versus Lloyds TSB and others for $12.5 million. In agreeing to the settlement, the bank admits no liability or wrongdoing on its part. The settlement has been reached in order to put an end to the distraction and expense of litigation. The settlement has been preliminarily approved by the court and final approval is expected in October 2007. [GUARDIAN UNLIMITED: FOREIGN CURRENCY SCAM]