MONEY & RATES BANKING & FINANCE INFORMATIONTECHNOLOGY ADVERTISING & MARKETING INTERNATIONAL BUSINESS
Fortune World
ECONOMY & POLITICS
RNI NO:KARENG/2010/353381 VOL : 3 ISSUE.NO.1443 DAILY BANGALORE,INDIA 15THJULY2014 Pages -4 $1/-USD
July 14, 2014.New York...
More
MONEY & RATES BANKING & FINANCE INFORMATIONTECHNOLOGY ADVERTISING & MARKETING INTERNATIONAL BUSINESS
Fortune World
ECONOMY & POLITICS
RNI NO:KARENG/2010/353381 VOL : 3 ISSUE.NO.1443 DAILY BANGALORE,INDIA 15THJULY2014 Pages -4 $1/-USD
July 14, 2014.New York –
Citigroup today announced
that it has reached an
agreement to settle the ongoing investigation of the
Residential MortgageBacked Securities (RMBS)
Working Group, part of the
Financial Fraud Enforcement Task Force.
Today’s agreement resolves
actual and potential civil
claims by the U.S. Department of Justice (the DOJ),
several state attorneys general (State AGs), and the
Federal Deposit Insurance
Corporation (theFDIC)relating to RMBS and collateralized debt obligations
(CDOs) issued, structured
or underwritten by Citi between 2003 and 2008.
Under the terms of the
settlement, Citigroup will
pay a total of $4.5 billion in
cash and provide $2.5 billion in consumer relief.
The cash portion consists
of a $4 billion civil monetary
payment
Less