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Author Topic: Citigroup's $285 Million Mortgage Settlement With SEC Blocked  (Read 3503 times)
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« on: November 29, 2011, 08:46:11 AM »

Citigroup's $285 Million Mortgage Settlement With SEC Blocked By Federal Judge
 
First Posted: 11/28/11 12:18 PM ET Updated: 11/28/11 12:18 PM ET

A federal judge blocked what would have been a $285 million mortgage settlement between Citigroup and the Securities and Exchange Commission, according to a tweet from The New York Times.

If the deal had passed muster, it would have settled accusations that the bank misled mortgage investors when selling securities, according to a separate NYT report. Jed Rakoff, the judge that blocked the settlement, criticized the SEC's enforcement practices at a hearing on the settlement earlier this month.


 ::snipping2::
http://www.huffingtonpost.com/2011/11/28/citigroup-mortgage-settlement-sec-blocked_n_1116544.html
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