Citi to pay $7 billion in Justice settlement

Citigroup has agreed to pay $7 billion as part of a landmark settlement with the Justice Department for misdeeds associated with the sale of mortgage-backed securities tied to the 2008 financial crisis, Attorney General Eric Holder announced Monday.

Included in the settlement is a $4 billion penalty, which Holder said was the largest of its kind.

According to USA Today, the bank has been under investigation by federal authorities for faulty mortgage securities that fueled the housing bubble a decade ago.

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