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Pimco sues Citi over mortgage securities

Citi Building Sign

Pacific Investment Management Co. sued Citigroup over the bank’s role as trustee for $13.8bn of mortgage-backed securities made toxic when the housing bubble burst, leading to "substantial damages."



Bank of America

Bank of America traders didn't lose money

Bank of America traders posted trading revenue on every business day of the third quarter, the first three-month period without a daily loss since the start of 2014, even as total trading revenue declined.