Citi Settles SEC Subprime Charges for $75 Million As Federal Crackdown on Major Players Continues
August 6, 2010
Citigroup became the latest in a roll call of major mortgage lenders and Wall Street finance giants to feel the wrath of the federal government in the wake of the subprime-induced collapse of the mortgage market and the resulting economic loss to MBS investors. Last week, Citigroup agreed to pay $75 million to settle charges that it lied to investors about...