Citigroup to pay $158.3M in mortgage settlement - chicagotribune.com: "Citigroup Inc has agreed to pay $158.3 million to settle U.S. civil claims that it defrauded the government over some home loans from its CitiMortgage unit.
Wednesday's settlement resolves claims under the federal False Claims Act and concerned more than six years of misconduct, according to U.S. Attorney Preet Bharara in Manhattan. Citigroup "admits, acknowledges and accepts responsibility" for its conduct, he added.
The government accused Citigroup of falsely certifying to the U.S. Department of Housing and Urban Development that various risky mortgage loans it was making qualified for mortgage insurance. "
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Wednesday, February 15, 2012
Citi and fines- made for each other
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