Citigroup be near $7 billion settlement

Citigroup be near $7 billion settlement

A civil investigation by the US Justice Department into the sale of mortgage investments by Citigroup, may be drawing to a conclusion.  The deal being considered would cost Citigroup around $7 billion in penalties and compensation payments, but would free it from recent concerns over its future and the resulting affect on its share price. The Justice Department had been seeking $10 billion, and experts had predicted $2 billion, but the final figure is reflective of the higher penalties that the Justice Department has been imposing on banks recently. Read the full story.