Citigroup Agrees to Pay $7 Billion Settlement
The settlement avoids further civil litigation by the Department of Justice. According to CNN, Attorney General Eric Holder stated, "Under the terms of this settlement, the bank has admitted to its misdeeds in great detail. The bank's activities shattered the livelihoods throughout the country." He went on to state, "They contributed mightily to the financial crisis that devastated our economy in 2008."
The entire CNN article regarding the settlement is available here.