July 8, 2014 / 9:01 PM / 3 years ago

Citigroup and U.S. government close to mortgage settlement -WSJ

NEW YORK, July 8 (Reuters) - Citigroup Inc and the U.S. Department of Justice are close to a multi-billion dollar settlement over allegations that the bank sold shoddy mortgages in the run-up to the financial crisis, the Wall Street Journal said on Tuesday.

The settlement could be announced as soon as next week, and would cost Citigroup more than $4 billion, the paper said, citing people familiar with the matter.

A Citigroup spokesman declined to comment. (Reporting by David Henry; Editing by David Gregorio)

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