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Is this another big bank caught in criminal activity? Citigroup...

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    Is this another big bank caught in criminal activity?

    Citigroup Legal Costs Jump as Currency Probes Accelerate
    By Dakin Campbell Oct 31, 2014 9:02 AM GMT+1000




    Oct. 30 (Bloomberg) -- Citigroup said third-quarter profit was $600 million less than previously reported because of an increase in legal costs. Bloomberg's Mia Saini reports on "Street Smart." (Source: Bloomberg)  
    Citi 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 U.K. Financial Conduct Authority is in settlement talks with Citigroup, JPMorgan Chase & Co., UBS AG, Barclays Plc, HSBC Holdings Plc and Royal Bank of Scotland Group Plc

    http://www.bloomberg.com/news/2014-...-profit-by-600-million-on-legal-costs-1-.html
 
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