Citigroup to pay $285M

October 19, 2011 at 2:26 pm | Posted in Uncategorized | Leave a comment

The problem is that it’s a settlement, not a fine.

Citibank gets a paper from the SEC saying they have not pleaded guilty or been convicted of any wrongdoing, and there are no outstanding charges against them, all claims being resolved.

In other words, they get off.

They just have to give a little of the money back to silence their clients.

Citigroup to pay $285M to resolve SEC claims | Crain’s New York Business.

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