Citigroup Capitulates, Agrees to Payout 7 Billion in Fines and Consumer Relief

Citigroup Banking

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. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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