Citigroup Legal Costs Jump as Currency Probes Accelerate
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Citigroup Inc. revealed that it’s facing a U.S. criminal probe into the bank’s foreign-exchange business and took a $600 million legal charge that forced it to restate third-quarter results reported two weeks ago.
The lender is cooperating with criminal and antitrust investigations by the Justice Department as well as inquiries by the Commodity Futures Trading Commission and regulators in the U.K. and Switzerland, New York-based Citigroup said today in a regulatory filing.