Reuters: Citigroup, Merrill Lynch in DOJ's crosshairs for civil fraud suits

by Ben Vernia | December 18th, 2013

On December 17, the Reuters news agency reported that Department of Justice officials knowledgeable about discussions between DOJ and Citigroup and Merrill Lynch are preparing to bring civil fraud charges against banking and investment giants Citigroup and Merrill Lynch.

The news comes approximately one month after the Department and JPMorgan reached a $13 billion settlement of mortgage-related claims. The government is currently in litigation in Manhattan against Bank of America and Wells Fargo over similar claims.

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