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Citigroup will pay $7 billion to settle an investigation into risky subprime mortgages, the type that helped fuel the financial crisis. The agreement announced Monday, July 14, 2014.  (AP Photo/Kiichiro Sato, File)
Citigroup will pay $7 billion to settle an investigation into risky subprime mortgages, the type that helped fuel the financial crisis. The agreement announced Monday, July 14, 2014. (AP Photo/Kiichiro Sato, File)
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Citigroup to pay $7B in subprime mortgage probe

WASHINGTON (AP) -- Citigroup announced Monday that it will pay roughly $7 billion to settle a federal investigation into risky subprime mortgages, the type that helped bring on the financial crisis.

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Bernanke: Financial Crisis Showed Need For Stronger Policies

Chairman Ben Bernanke says the 2008 financial crisis showed the Federal Reserve that it must strengthen its approach to both regulation and interest-rate policies.

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