FDIC, Citi Settle 9th Circ. Appeal Over Colonial Bank Failure
By Cara Salvatore ( October 22, 2014, 9:23 PM EDT) -- Citigroup Global Markets Inc. has reached a settlement agreement with the FDIC in a Ninth Circuit appeal alleging a number of banks spurred on Colonial Bank's failure by selling it poor-quality mortgage-backed securities, and the bank insurer said Wednesday it expects Bank of America Corp. to exit the suit shortly as well....
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