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The U.S. government did not wait too long to charge UBS and other mortgage underwriters with misleading investors in the run-up to the mortgage meltdown, a U.S. appeals court ruled Friday.
April 8 -
General Electric (GE) has agreed to settle a lawsuit charging it with wrongdoing in the sale of securities backed by residential mortgages.
January 23
Citigroup has agreed to settle a lawsuit by the federal government that charged the bank with misleading investors in the run-up to the mortgage meltdown.
The pact between the nation's third-biggest bank by assets and the Federal Housing Finance Agency disposes of claims by FHFA that Citigroup sold more than $3.5 billion in securities backed by defective residential mortgages to Fannie Mae and Freddie Mac over a 20-month period starting in September 2005, according to a filing Tuesday by the bank and FHFA with the U.S. District Court in Manhattan.
Financial terms of the settlement, which was first reported by
"We are pleased to put this matter behind us," Citigroup spokeswoman Danielle Romero-Apsilos said in an emailed statement.
FHFA, in its role as conservator for Fannie and Freddie,
In January, FHFA
Stefanie Johnson, a spokeswoman for FHFA, said in a statement that the agency "remains active in settlement discussions with other parties that were subjects of these lawsuits."
