Monday, July 14, 2014

Citigroup to Pay $7 Billion Settlement Over Financial Crisis

The largest civil settlement ever will be paid out by Citigroup as part of an agreement with the department of justice over their conduct before and during the 2007 financial crisis. This is the second such settlement reached by the D.O.J. since president Barrack Obama ordered the creation of a task force in 2012 to investigate misconduct in the mortgage securities market. Still, some are wondering if the D.O.J. is pushing hard enough. Scott Baba reports.