Citigroup’s $7 billion settlement includes $84 million for Illinois
BY SANDRA GUY Staff Reporter July 14, 2014 7:32AM
Attorney General Lisa Madigan filed lawsuits against scam operations charging upfront fee for bogus services or for government services that are free. Monday, July 14, 2014 | Brian Jackson/ Sun-Times
Updated: July 15, 2014 10:39AM
Chicago taxpayers, pension systems and neighborhoods where large numbers of renters and homeowners still struggle with subprime and other risky mortgages will share in Illinois’ $84 million portion of a national $7 billion settlement with Citigroup.
The settlement, announced Monday, will be paid by Citigroup to the U.S. government for selling securities that led to the housing bust and the Great Recession.