2012-02-16bloomberg.com

"Instead of reporting the defects to the Federal Housing Administration, the bank saddled the agency with losses by falsely declaring the loans fit for its federal insurance program, according to a complaint filed yesterday by the U.S. Attorney's Office in Manhattan. Citigroup agreed to pay $158.3 million to settle the claims, and admitted that it certified loans for FHA backing that didn't qualify. "


Lijit Search

Comments: Be the first to add a comment

add a comment | go to forum thread