Iowa Attorney General Tom Miller announced a $100 million multistate settlement Friday with Citibank for fraudulent conduct involving Libor, which is a benchmark interest rate that affects financial instruments worth trillions of dollars and has a widespread impact on global markets and consumers. The investigation was conducted by a bipartisan working group of 42 state attorney general offices. As a result of its fraudulent conduct, Citibank made millions in unjust gains when government entities and nonprofit organizations entered into swaps and other financial contracts with Citibank without knowing that Citibank and other banks on the U.S. dollar Libor-setting panel were manipulating Libor submissions, according to a statement by Miller. Citibank is the third Libor-setting panel bank to resolve claims following investigations by state attorneys general, preceded by Barclays Capital and Deutsche Bank. The attorneys general have collected $420 million in payments from the three banks, almost all of which will be distributed to state and local government entities and nonprofits.