In just one year, 2007, Citi marketed more than $20 billion worth of deals backed by home mortgages to investors around the world, most of which failed spectacularly. Palm Coast, FL – October 21, 2011 – In the run-up to the global financial collapse, Citigroup’s bankers worked feverishly to create complex securities. In just one […]
”Insider loans” – loans to directors or officers of the bank – at their peak exceeded 94 percent of U.S. Century’s total equity capital. Palm Coast, FL – October 19, 2011 – U.S. Century Bank rocketed into being in 2002, with investors pouring in $30 million over three months. Four years later, the Miami-based bank […]
Wells Fargo has agreed to pay $590 million to settle class-action lawsuits brought by investors concerning bonds sold by Wachovia, which Wells Fargo acquired in October 2008. Palm Coast, FL – August 9, 2011 – On Friday, Wells Fargo disclosed that it had agreed to pay $590 million to settle class-action lawsuits brought by investors […]
The agency is looking at whether Citi improperly pushed an independent manager in a $1 billion deal that the bank created in the run-up to the financial crisis. Palm Coast, FL – November 18, 2010 – The Securities and Exchange Commission is investigating Citigroup’s role in a $1 billion deal that the bank created in […]