Reuters reports that General Electric also paid $6.25m to settle a similar suit, the Federal Housing Finance Agency said in a statement. Ally Financial, the former parent of bankrupt Residential Capital LLC, paid $475m.
Citi, GE and Ally had previously settled the claims in 2013, but none had disclosed the financial terms.
The banks are among 18 financial institutions that were sued in 2011 for allegedly misleading Fannie Mae and Freddie Mac, the biggest provider of housing finance in the United States, into buying more than $200bn in mortgage-backed securities.
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