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News
July 9, 2014

In The News Today – July 9, 2014

The Justice Department and Citigroup Inc. are “close to a deal for the bank to pay about $7 billion” to resolve a probe into the company’s sales of mortgage securities. (Wall Street Journal)

Wells Fargo Bank NA could face up to “$1 billion in damages” in a False Claims Act whistleblower case, “over allegations that the bank falsely certified that it was in full compliance with relevant laws in a Home Affordable Modification Program servicer agreement.” (Law360)

New York Assembly Speaker Sheldon Silver “put in only a few hours a week last year at the private law firm job that paid him as much $750,000,” according to disclosure reports. “A Silver aide on Thursday confirmed that the powerful Manhattan Democrat spent roughly half a day each week, mostly Fridays, working for the personal injury firm Weitz & Luxenberg.” That means “Silver received as much as $3,600 for every hour he put in.” (New York Daily News)

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