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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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Israelis blast Hamas-flown drone

A Palestinian confronts an Israeli soldier (left) during a demonstration against Israeli military action in Gaza, near the West Bank town of Nablus, July 14, 2014.

JERUSALEM -- The Israeli military intercepted an unmanned aircraft flown from Gaza on Monday, blowing it apart... Read »