Citigroup Capitulates, Agrees to Payout 7 Billion in Fines and Consumer Relief
Posted on 07/14/2014
Citigroup was part of a group of U.S. lenders being investigated by the U.S. Department of Justice (DOJ) for allegedly misrepresenting the quality of mortgage-backed securities sold prior to 2008. Institutional investors such as pensions and sovereign wealth funds invested in these instruments, either directly or through external fund managers. Citigroup has agreed to pay […]
- Bonds
- Citigroup
- department of justice
- FDIC
- JP Morgan
- lawsuit
- MBS
- Merrill Lynch
- mortgage-backed securities
- Policy
