The DOJ cited "the strength of the evidence" warranting Citigroup's $7 billion payment over sales of residential mortgage-backed securities. But there's little evidence to be found in the statement of facts accompanying Monday's deal.
July 14, 2014 at 05:34 PM
1 minute read
U.S. federal and state authorities extracted a hefty payment from Citigroup Inc. on Monday, securing $7 billion to settle claims stemming from the bank’s role issuing residential mortgage-backed securities and collateralized debt obligations in 2006 and 2007. In a statement, Attorney General Eric Holder said: “This historic penalty is appropriate given the strength of the evidence of the wrongdoing committed by Citi.”
What evidence, you ask?
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