Nation | Business

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

NPR | July 14, 2014 3:24 p.m.

Contributed By:

Jim Zarroli

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.

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