Quantcast

Citigroup to pay $7B in subprime mortgages probe

Print
Font Size:
Default font size
Larger font size

Posted: Monday, July 14, 2014 8:00 pm

WASHINGTON — Citigroup has agreed to pay $7 billion to settle a federal investigation into its handling of risky subprime mortgages, admitting to a pattern of deception that Attorney General Eric Holder said “shattered lives” and contributed to the worst financial crisis in decades, the Justice Department said Monday.

The settlement represents a moment of reckoning for one of the country’s biggest and most significant banks, which is now accountable for providing some financial support to Americans whose lives were dismantled by the largest economic meltdown since the Great Depression.

Subscription Required

An online service is needed to view this article in its entirety. You need an online service to view this article in its entirety.

Have an online subscription?

Login Now

Need an online subscription?

Subscribe

Login

You must login to view the full content on this page.

Thank you for reading 5 free articles on our site. You can come back at the end of your 30-day period for another 5 free articles, or you can get complete access to the online edition for $2.49 a week. If you need help, please contact our office at 505-986-3010 You need an online service to view this article in its entirety.

Have an online subscription?

Login Now

Need an online subscription?

Subscribe

Login

Rules of Conduct

  • 1 No Alias Commenters must use their real names.
  • 2 Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
  • 3 Don't Threaten or Abuse. Threats of harming another person will not be tolerated. and please turn off caps lock.
  • 4 Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.

Welcome to the discussion.

Follow The Santa Fe New Mexican

Today’s New Mexican, July 25, 2014

To view a replica of today's printed edition of The Santa Fe New Mexican, you must be a subscriber. Get complete access to the online edition, including the print replica, at our low rate of $2.49 a week. That's about the price of a cup of coffee. Or get online and home delivery of our print edition for $3.24. Click here for details.  

Advertisement