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Violation Tracker Individual Record

Company: Citigroup
Current Parent Company: Citigroup
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $968,000,000
Year: 2013
Date: July 1, 2013
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: Citigroup announced an agreement with Fannie Mae to resolve potential future repurchase claims for breaches of representations and warranties on 3.7 million residential first mortgage loans sold to Fannie Mae that were originated between 2000 and 2012. Citi agreed to pay Fannie Mae $968 million under the agreement.
Level of Government: federal
Action Type: agency action
Agency: Fannie Mae
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.