Citigroup Down 0.3% as It Settles Claims Related to Texas Mo

February 22, 2011

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.