Justice Department Ready To Sue Citi After Mortgage Settlement Talks Stall
Uncle Sam wants more from Citigroup than the bank is willing to pay to settle claims over its mortgage-related activities leading into the 2008 financial crisis, and the showdown could soon land in a courtroom. The gulf between the parties is wide, with reports pegging Citi’s best offer at less than $4 billion and government negotiators seeking $10 billion in what would mark another 11-figure punishment for a big U.S. bank.
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