The Justice Department is reportedly prepping a civil suit against Citigroup Inc. (C) and Bank of America's Merrill Lynch (BAC) over the sale of toxic mortgage securities, Reuters reported Wednesday.
Per Reuters:
Civil investigators have compiled evidence that allegedly shows that investors lost tens of billions of dollars after purchasing securities Citigroup had marketed as safe even though the bank had reason to believe otherwise, one person said.
On today’s sponsored episode, Editor in Chief Sarah Wheeler talks with Donna Spencer, vice president of servicer relationship and performance management at Freddie Mac, to discuss their new Servicing Excellence initiative and the benefits for their partners. Related to this episode: Related to this episode: Servicing Excellence https://sf.freddiemac.com/articles/insights/servicing-excellence Forging a New Path: The Future of […]
