Subprime tab hits $7 billion for Citigroup

Penalty caps federal probe of mortgage-backed bonds

Posted: July 15, 2014 at 3:38 a.m.

WASHINGTON -- Citigroup Inc. has agreed to pay $7 billion in fines and consumer relief to resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the 2008 financial crisis.

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