Citigroup (C) reaches a settlement in an FHFA lawsuit which accused it of misleading Fannie Mae...

|About: Citigroup Inc. (C)|By:, SA News Editor

Citigroup (C) reaches a settlement in an FHFA lawsuit which accused it of misleading Fannie Mae and Freddie Mac into buying $3.5B of mortgage-backed securities, according to a court filing which did not disclose the terms of the deal. It's the second settlement so far out of 18 securities fraud cases the FHFA filed against banks in 2011 over $200B-plus in MBS sold to Fannie and Freddie.