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Citigroup’s $7 billion settlement includes $84 million for Illinois

Attorney General LisMadigan filed lawsuits against scam operations charging upfront fee for bogus services or for government services thare free.

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

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Updated: August 16, 2014 6:08AM



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.

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