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US newspaper round-up: Citigroup, Obama/China, Barrick Gold...

Published on 16th February 2012

“Citigroup Inc. is paying $158 million to settle accusations that it took advantage of a federal mortgage insurance program. In a settlement with the Justice Department, Citi admitted that it provided misleading information about the quality of its mortgages to a federal insurance program run by the U.S. Department of Housing and Urban Development. The government provided backing for the mortgages and ended up losing millions when the borrowers defaulted,” says the Los Angeles Times.


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