Posted in Citigroup has agreed to pay $75 million to settle federal claims that it failed to disclose vast holdings of subprime mortgage investments that crippled the bank during the financial crisis, two sources briefed on the deal told the New York Times. The Securities and Exchange Commission has also singled out two Citigroup executives — Gary Crittenden, the former CFO, and Arthur Tildesley, the former head of investor relations — for omitting material information in disclosures to shareholders, according to the sources. Crittenden has agreed to pay a $100,000 fine and Tildesley will pay $80,000. [more]
