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Citigroup Pays $7B Penalty in Mortgage Securities Investigation

One of the biggest banks in the United States, Citigroup, is paying a $7 billion penalty to resolve U.S. government charges that it sold risky housing securities that helped trigger the country's deep recession in 2008. Under the agreement Monday, Citigroup will pay $4 billion to the government's Justice Department, $500 million to a U.S. insurance fund and several state governments and provide $2.5 billion in relief to financially troubled homeowners having difficulty making...

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