Jenner & Block

Citigroup Monitor Releases Second Report

WASHINGTON, DC, May 15, 2015 – Jenner & Block Partner Thomas J. Perrelli has released the second report as independent monitor to determine Citigroup Inc.’s compliance with consumer relief obligations, valued at $2.5 billion, under its settlement with the U.S. Department of Justice and five states.  As described in the report, the settlement resolved possible federal and state legal claims for violations of law regarding the packaging, marketing, sale, structuring, arrangement and issuance of residential mortgage-backed securities and collateralized debt obligations between 2006 and 2007.

The purpose of the Monitor’s reports is to inform the public of Citigroup’s obligations under the settlement and provide an update on Citigroup’s progress toward fully meeting those obligations.  To these ends, the current report includes:

  • A status update on the consumer relief credit earned and expected, which has been submitted for the Monitor’s assessment;
  • A description of the outreach events that Citi has conducted thus far; and
  • An overview of next steps.

All reports are available on the Citigroup Monitorship website (www.citigroupmonitorship.com) and can be accessed at http://citigroupmonitorship.com/reports.html.

The monitor’s next report to the public on Citigroup’s consumer relief activity will be issued in the Summer of 2015.