Citigroup Agrees to Buy Back Auction Rate Securities, Pays Fine

Posted by Patrick O'Connor on 8/7/08 9:55 am

Citigroup today agreed to buy back or help unload $19.5 billion in auction-rate securities from customers and pay a $100 million fine for selling illiquid bonds that some said were as good as cash.  Read more.

Financial Industry Regulatory Authority (FINRA) sets arbitration process.

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