DOJ Asks Citigroup (C) for More than $10B to Settle Mortgage Probes: Report

According to a Friday Bloomberg report that references sources familiar with the situation, the U.S. Justice Department [DOJ] is seeking more than $10 billion from Citigroup Inc. (C) to settle investigations involving faulty mortgage-backed securities sold in the run-up to the financial crisis. Prosecutors broke off negotiations talks with Citigroup on June 9 after the […] View the full post at: DOJ Asks Citigroup (C) for More than $10B to Settle Mortgage Probes: Report Related posts: John Paulson Quietly Snapping Up Citigroup Shares: Report Citigroup Increasingly Frustrated With Treasury’s Indecision to Sell Stake Citigroup Slashes its Wholesale Mortgage Business