Tag: sub-prime mortgages

• Tuesday, July 15th 2014 - 06:49 UTC

  Citigroup agrees to pay 7bn dollars to settle sub-prime mortgages investigation

  

  Banking giant Citigroup will pay 7bn dollars to US authorities to settle an investigation into risky sub-prime mortgages. Citigroup will pay 4bn to the Department of Justice and 2.5bn for “consumer relief”.

• Saturday, September 3rd 2011 - 00:44 UTC

  US government to sue 17 major banks for losses on sub-prime mortgages

  

  US authorities announced legal actions against 17 major banks for losses on mortgage-backed investments that cost taxpayers tens of billions of dollars. The Federal Housing Finance Agency said it was taking action against banks including Goldman Sachs, Barclays, Bank of America, Deutsche Bank, and HSBC.