Citigroup
Inc said it agreed to pay $7 billion to settle a U.S. government investigation
into mortgage-backed securities the bank sold in the run-up to the 2008
financial crisis.
The
settlement figure was more that twice what many analysts expected earlier this
year but less than the $12 billion the government had sought in negotiations
with the bank.
Citigroup
said on Monday it would pay $4.5 billion in cash and provide $2.5 billion in
consumer relief.
The
bank said it would take a
