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California Receiving $200 million in Citi Settlement

In the state of California, Attorney General Kamala D. Harris negotiated the largest settlement, with $102,700,000 in damages being reimbursed to the state’s pension funds, CalPERS and CalSTRS.

Another $90 million will go to homeowners affected by the suspect lending policies in place at Citi at the time.

Citigroup will be required to provide relief to underwater homeowners and distressed borrowers by issuing loan modifications and/or providing principal forgiveness.

If you think you might be eligible for relief, you might want to contact Citi sooner rather than later.

For the record, the settlement doesn’t let the perpetrators off the hook for their wrongdoings, and they could still face criminal charges.

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