Sometimes the most important news stories get overshadowed by short-term crises and teakettle tempests. With that in mind, we at DailyFinance decided to take a look back at the nine stories of 2012 that are likely to have the biggest impact on your wallet in the year ahead.
Even before the LIBOR scandal hit, the financial industry's image was already badly tarnished by its leading role in causing the global financial crisis and recession. Here's a look at some of the low points for banking and bankers since the start of the financial crisis.
Swiss bank UBS AG is expected to pay more than $450 million to U.S. and British authorities to settle claims some of its employees submitted false Libor rates, the New York Times reported.
What can you do when a megabank takes your home? How about suing a dozen of them. Annie Bell Adams has filed suit against 12 of the world's biggest banks, alleging that their manipulation of the LIBOR rate caused her mortgage payments to be much higher than they otherwise would have been.
The incredible LIBOR rate-rigging scandal is huge, and it's only going to grow in scope: Many of the world's largest banks have already been implicated in manipulating interest rates that are tied to some $800 trillion in loans and securities.
Europe's debt crisis has driven up the London interbank offering rate, or Libor, to a 10-month high. Find out why, if the increase persists, American consumers could find it harder to get all kinds of loans.
