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Shares of Citigroup (C) are near the flatline as the bank settles fraud cases brought by borrowers who accused the bank of filing fraudulent mortgage documents, Bloomberg reports. Citi settled or lose at least five such claims in 2010, the report says.
The most recent settlement involved a bankrupt homeowner who contested Citi's use of a Texas mortgage assigner, the report said.
Citigroup shares are down 0.31%, or $0.01, to $4.89.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...
The Wall Street Journal reports that home prices showed their best year-to-date gains since 2005, up 5.9% through July, signaling the housing market's steady march toward recovery. Also from the Wall Street Journal, IBM (IBM) will increase its efforts to sell so-called cloud computing services...
CEO Marissa Mayer is bringing in some more new blood to Yahoo!, tapping Ken Goldman as the company's new Chief Financial Officer. Goldman's appointment will take effect on October 22nd.
Goldman served as CFO at his most recent employer, Fortinet, having worked at Siebel Systems, Sybase,...
