citigroup

A federal judge has nixed a $285 million settlement between Citigroup and the Securities and Exchange Commission.

He said the deal was "neither fair, nor adequate nor in the public interest." The settlement dealt with Citigroup's handling of subprime mortgage debt prior to the financial crisis.

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AP - Citigroup has agreed to pay $285 million to settle civil fraud charges that it misled buyers of complex mortgage investments just the housing market was starting to collapse.

The FBI is looking into a computer-breach that targeted Citigroup. The Wall Street Journal reports millions of dollars appear to have been stolen by computer hackers linked to a Russian mob.

A Citibank official denies that the cyber attack ever took place.

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Goldman Sachs announced Thursday that its quarterly earnings nearly quadrupled from a year ago. The Wall Street bank said it made about $3 billion in the third quarter.

Goldman has emerged as one of the winners from the financial crisis. Not so for Citigroup, which told shareholders Thursday that it lost more than $3 billion last quarter.