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July 30, 2010

Citigroup to Pay $75M to Settle Subprime Mortgage Claims
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Citigroup has agreed to pay $75 million to settle federal claims that it
hid more than $40 billion in subprime mortgage investments that were
deteriorating. The holdings ultimately crippled the bank and forced the
federal government to rescue the bank. As part of the settlement, two
high-ranking Citigroup executives have agreed to pay a total of $180,000
in fines for their involvement in the subprime mortgage investments.



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