-
While banks have spent tens of billions of dollars to settle investigations related to the sale of faulty mortgages, probes into everything from foreign-exchange trading to subprime automobile lending are forcing many of them to continue adding to their legal reserves.
November 12 -
Citigroup failed to safeguard the personal information Social Security numbers, birth dates and other sensitive data of nearly 150,000 consumers who went into bankruptcy between 2007 and 2011.
July 17
Citigroup has resolved a hang-up in its
The case involved court documents filed by Citi that were not sufficiently redacted. Those documents which were uploaded to Pacer, the government's online court-record system improperly displayed 150,000 clients' personal information, including Social Security numbers and birthdays.
Citi admitted to making the errors. In a settlement reached in March 2012 with the Justice Department and
During a verification process mandated by the March 2012 settlement, Citi discovered an additional 50,000 improperly redacted filings, according to a press release Tuesday by the U.S. Trustee Program, the arm of the Justice Department that administers bankruptcy proceedings. It is unclear how many consumers those additional filings involved.
The bank prepared a plan to fix the newly discovered problem, and the Trustee's office ordered an independent auditor to review its redaction policies. In a report filed Monday with U.S. Bankruptcy Court for the Southern District of New York, the auditor concluded that Citi has satisfied the requirements of the settlement and subsequent corrective action plan, the release said.
