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Judge Rejects Citigroup, SEC Settlement


November 29, 2011

by: Jim Zarroli, NPR



November 29, 2011

 
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November 29, 2011

A federal judge has nixed a $285 million settlement between Citigroup and the Securities and Exchange Commission. He said the deal was "neither fair, nor adequate nor in the public interest." The settlement dealt with Citigroup's handling of subprime mortgage debt prior to the financial crisis.

Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.
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