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Violation Tracker Individual Record

Company: Citigroup
Current Parent CompanyCitigroup
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $413,041,577
Year: 2012
Date: February 9, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-ScandalMortgage Abuses
Violation Description: Bank of America, Wells Fargo, Citigroup, JPMorgan Chase, and Ally Financial agreed to pay a total of $5 billion in direct payments to resolve multistate litigation concerning abuses in their mortgage servicing and foreclosure practices; $4.25 billion of the total was to go to the states. This was part of the larger $25 billion National Mortgage Settlement that also included $20 billion in relief to borrowers; see the Violation Tracker entry for Citigroup at (click here). The Citigroup settlement document linked below puts the company's share of the direct payments at $413,041,577.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Court: District of the District of Columbia
Civil or Criminal Case: civil
Case ID: 1:12-cv-0361
Case Name: United States of America et al. v. Bank of America Corporation et al.
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)
Link to PACER Case Docket (must be logged in)(click here)
Link to Archived Court Document subscribe to see this data field
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.