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Citigroup To Pay $7 Billion To Settle Mortgage Fraud

U.S. Attorney General Eric Holder announces  on July 14, 2014 in Washington, D.C., that Citigroup has agreed to pay the government $7 billion for misleading investors about some of the mortgage-backed securities sold prior to January 1, 2009. (Alex Wong/Getty Images)
U.S. Attorney General Eric Holder announces on July 14, 2014 in Washington, D.C., that Citigroup has agreed to pay the government $7 billion for misleading investors about some of the mortgage-backed securities sold prior to January 1, 2009. (Alex Wong/Getty Images)

U.S. Attorney General Eric Holder announced today that Citigroup will pay $7 billion to settle charges of misconduct over its trade in mortgage securities.

Dakin Campbell has been covering the story for Bloomberg News and joins Here & Now’s Jeremy Hobson with details.

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