Citigroup Agrees To $7 Billion Fine For 'Egregious' Misconduct

Jul 14, 2014
Originally published on July 14, 2014 4:24 pm

Citigroup has agreed to pay $7 billion to settle claims that it committed fraud when it sold mortgage-backed securities in the years leading up to the financial crisis. Most of the money will be paid to the U.S. Treasury, but some will be used to provide mortgage relief to struggling homeowners.