Citigroup, DOJ Reach $7B Mortgage Settlement

By Evan Weinberger (July 14, 2014, 8:19 AM EDT) -- Citigroup Inc. on Monday said it has agreed to a $7 billion settlement with the U.S. Department of Justice to resolve a federal probe into the bank's loan securitizations in the runup to the financial crisis, ending the threat of a lawsuit that federal prosecutors were reportedly prepared to launch. 

The settlement with the Justice Department, the Federal Deposit Insurance Corp. and five state attorneys general brings to a close years of investigations, litigation and settlements brought by federal and state regulators against the New York-based bank over its mortgage-related activities prior to the financial crisis. The deal seemed unlikely weeks...

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