Citibank reaches $7 billion mortgage probe settlement

[JURIST] Citigroup, Inc. on Monday agreed to pay $7 billion to settle a federal inquiry into mortgage-backed securities sold by the bank prior to the country’s financial crisis. The deal, which involves one of the largest cash penalties [NYT report] ever paid to settle such allegations, includes [WSJ report] a $4 billion civil penalty to the US Department of Justice (DOJ) [official website] and $2.5 billion reserved for "consumer relief," with $180 million in financing to go towards building affordable…

Source: http://jurist.org/paperchase/2014/07/citibank-reaches-7-billion-mortgage-securities-inquiry-settlement.php

employment law employment law courses employment lawyer

Advertisements
This entry was published on July 20, 2014 at 5:00 am and is filed under Uncategorized. Bookmark the permalink. Follow any comments here with the RSS feed for this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: