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Citigroup in $590 Million Settlement of Subprime Lawsuit

Foreclosure

Citigroup said on Wednesday that it had agreed to pay $590 million to settle a class action lawsuit brought by shareholders who contended that they had been misled about the bank’s exposure to subprime mortgage debt on the eve of the financial crisis.

 

Wells Fargo to Pay Citi $100 Million

Wells Fargo agreed to pay $100 million to Citigroup to settle all claims related to its $15-billion deal to acquire Wachovia in the midst of the financial crisis.

 

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