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SEC closes probe of Citi mortgage bonds

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By The Associated Press
Saturday, Aug. 2, 2014, 12:01 a.m.

Citigroup Inc. said it was told by the Securities and Exchange Commission that the agency has completed its investigation of the bank's conduct regarding mortgage bonds and won't bring further enforcement action.

Citigroup said in a regulatory filing on Friday that it received the information from the SEC this week.

The SEC has filed a series of cases against Citigroup and other big Wall Street banks in recent years over their sales of securities backed by risky mortgages before the 2008 financial crisis. The banks have paid hundreds of millions of dollars to settle the SEC charges.

SEC spokesman John Nester declined to comment.

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