(Bloomberg) -- Citigroup agreed to pay $7 billion in fines and consumer relief to resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the 2008 financial crisis.
The bank took a $3.7 billion charge in the second quarter ended June 30 to cover the cost of the settlement, the New York- based firm said today in a statement. Citigroup climbed 3.6% to $48.71 at 8:33 a.m. in early trading in New York.
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