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BRIEF-U.S. Attorney General says DOJ announces civil resolution with Citigroup totaling $7 bln in fines
July 14, 2014 / 11:13 AM / 3 years ago

BRIEF-U.S. Attorney General says DOJ announces civil resolution with Citigroup totaling $7 bln in fines

July 14 (Reuters) - U.S. Attorney General:

* U.S. Attorney General says DOJ announces civil resolution with Citigroup totaling $7 billion in fines, including a civil penalty of $4 billion

* U.S. Attorney General says settlement with Citigroup related to sale of securities that were backed by toxic loans

* U.S. Attorney General says citi tried to hid the defects of the increasingly risky loans they were securitizing

* U.S. Attorney General says “under the terms of this settlement, the bank has admitted to its misdeeds in great detail”

* U.S. Attorney General says settlement does not absolve citigroup or its employees from facing any possible criminal charges in the future

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