REUTERS - Citigroup said on Friday it received a subpoena from federal and state regulators seeking information about the bank's "issuing, sponsoring, or underwriting" of mortgage-backed securities.
The inquiries included a subpoena from the civil division of the U.S. Department of Justice, which Citigroup received on January 27, it said in its annual report.
That same day Attorney General Eric Holder said the department had issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors.
Citigroup is among the first institution to disclose it received one of the subpoenas.
Bank of America (BAC.N), for example, said in its annual filing released on Thursday it "received a number of subpoenas" from regulators and other authorities about the bank's underwriting and issuance of mortgage-backed securities, but did not specifically disclose any subpoena from the DOJ.
Citigroup said the requests for information came from state and federal regulators, including the Securities and Exchange Commission.
(Reporting By Aruna Viswanatha in Washington, D.C., Jonathan Stempel in New York and Rick Rothacker in Charlotte; Editing by Phil Berlowitz)
Trending On Reuters
India plans to pull its tariff regime closer in line with global norms to prepare for new regional trade pacts being negotiated by advanced economies, the government said on Wednesday. Full Article
RBI to leave repo rate on hold next week but cut 25 bps by end-June - Reuters poll Full Article