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Citigroup to Pay $7B Fine; Profit Falls

JUL 14, 2014 1:15pm ET

Citigroup, the third-largest U.S. bank by assets, will pay roughly $7 billion in fines and consumer relief to settle an investigation into risky subprime mortgages and resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the 2008 financial crisis.

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