ADVFN - Advanced Financial Network.
HOME» NYSE » C » C Stock Price » C Stock News

Citigroup Share News

 Citigroup Stock Price
C Stock Price
 Citigroup Stock Chart
C Stock Chart
 Citigroup Stock News
C Stock News
 Citigroup Company Information
C Company Information
 Citigroup Stock Trades
C Stock Trades

FDIC Targets Banks Over Soured Mortgage Securities

By Andrew R. Johnson Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- The Federal Deposit Insurance Corp. is suing several big banks over soured mortgage securities that were purchased by failed lenders the regulator seized in 2009. In three separate suits filed Friday in federal court, the FDIC claims banks including Bank of America Corp. (BAC), J.P. Morgan Chase & Co. (JPM), Citigroup Inc. (C) and Credit Suisse Group AG (CS, CSGN.VX) misrepresented the quality of mortgage loans packed into securities. Two of the suits, including one in New York and one in California, were filed by the FDIC as the receiver for Strategic Capital Bank. The other, filed in New York, was filed by the agency as the receiver for both Citizens National Bank and Strategic Capital Bank. The FDIC seized the Illinois banks in May 2009. Combined, the three suits seek at least $92 million in damages, according to the complaints. A spokesman for the FDIC declined to comment Monday as did several of the banks. The FDIC has been actively pursuing claims against lenders and bank executives over activities leading up to the financial crisis, which resulted in a wave of bank failures. In December, the agency settled a civil lawsuit for $65 million against three former executives of Washington Mutual Inc., whose allegedly reckless behavior led to the bank's collapse. News of the lawsuits was first reported by Bloomberg News. -By Andrew R. Johnson, Dow Jones Newswires; 212-416-3214; andrew.r.johnson@dowjones.com --Brett Philbin and Liz Moyer contributed to this article.

Stock News for Citigroup (C)
DateTimeHeadline
07/06/201516:06:57Statement of Changes in Beneficial Ownership (4)
07/06/201516:06:30Initial Statement of Beneficial Ownership (3)
07/06/201516:06:04Statement of Changes in Beneficial Ownership (4)
07/06/201516:05:37Statement of Changes in Beneficial Ownership (4)
07/06/201516:05:37Statement of Changes in Beneficial Ownership (4)
07/06/201516:05:10Statement of Changes in Beneficial Ownership (4)
07/06/201516:04:46Statement of Changes in Beneficial Ownership (4)
07/06/201516:04:19Statement of Changes in Beneficial Ownership (4)
07/06/201516:03:52Statement of Changes in Beneficial Ownership (4)
07/06/201516:03:27Statement of Changes in Beneficial Ownership (4)
07/06/201516:03:27Statement of Changes in Beneficial Ownership (4)
07/06/201516:03:00Statement of Changes in Beneficial Ownership (4)
07/06/201515:40:21Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
07/06/201514:50:04Starbucks Raises Prices by About 1%
07/06/201514:50:04Uber Seeks Police Protection in Johannesburg
07/06/201506:10:12Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
07/06/201503:24:31China Huarong Files Listing Application for Hong Kong IPO of...
07/02/201516:44:38Brazil Antitrust Agency Investigating Banks for Suspected Rate...
07/02/201516:37:10Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
07/02/201516:06:50Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

Citigroup and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad