openpolitics.com

Appeals Court Overturns Decision to Reject S.E.C.-Citigroup Settlement

A federal appeals court on Wednesday overturned a judge’s decision to reject a federal settlement deal with Citigroup, undercutting the judge’s concerns that the bank got off with little more than a slap on the wrist.

.. The judge called the fine “pocket change” for the bank. He also took aim at the S.E.C.’s decision to allow Citigroup to settle the case without admitting wrongdoing, saying the parties deprived the public “of ever knowing the truth in a matter of obvious public importance.”