Freddie Mac-No Politics (FMCC)

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NEW YORK (MarketWatch) -- Citigroup Inc. C +0.39% said late Wednesday that it will pay $395 million to Freddie Mac to settle accusations that the bank misrepresented mortgage-backed securities that it sold to Freddie. The settlement covers 3.7 million loans. Notably, it doesn't cover only loans made in the run-up to the financial crisis: Instead, it covers loans made between 2000 through just last year. Citi could still be fined over its sale of other mortgage-backed securities. The bank says it has enough cash stashed away for potential future settlements. Other big banks have faced similar accusations, and news broke late Wednesday that J.P. Morgan Chase & Co. JPM -0.54% might pay as much as $11 billion to settle federal and state investigations into its own sales of mortgage-backed securities.

http://www.marketwatch.com/story/citi-to-pay-395-million-to-freddie-mac-2013-09-25?dist=bigcharts