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Citigroup forced to comply with FDIC rules

02/07/09 21:01

The Citigroup Inc., was forced to curb executive pay and reduce stock dividends to be able to grab onto the $346 billion bailout and now needs to expand and use government's mortgage-relief program to meet regulator's demands. The bank will be using Federal Deposit Insurance Corp.'s loan modification formula that seeks to prevent foreclosures with a reduced mortgage payments. More details on the link below.

Read more: Citigroup forced to comply with FDIC rules [click]

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