Reports: Citigroup to detail $7B settlement
Cameron Saucier, USA TODAY 7:13 p.m. EDT July 13, 2014
In a settlement that will be announced Monday, Citigroup will agree to pay $7 billion to the Justice Department for misdeeds associated with the sale of mortgage-backed securities tied to the 2008 financial crisis, according to published reports Sunday.
The bank has been under investigation by federal authorities for faulty mortgage securities that fueled the housing bubble a decade ago.
Sunday, July 13, 2014
I posted last December that the banksters had paid $86 billion in fines and with this new settlement by Citibank, I think the total must be over $100 billion.
Posted by Steve J. at 4:53 PM