Posted AT 7:06 PM EDT on 07/08/08
Citigroup, NY settle for $7-billion
WASHINGTON — Citigroup Inc. will buy back more than $7-billion (U.S.) in auction-rate securities and pay $100-million in fines as part of settlements with federal and state regulators, who said the bank marketed the investments as safe despite liquidity risks.
Citigroup will buy back the securities from tens of thousands of investors nationwide under separate accords announced Thursday with the U.S.
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