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But the corporate pigs chug on:
- Citigroup said it would pay $4.5 billion in cash and provide $2.5 billion in consumer relief.
The cash portion consists of a $4 billion civil payment to the Justice Department and $500 million in compensatory payments to state attorneys general and the Federal Deposit Insurance Corp.
The bank said consumer relief will include financing for the construction of affordable multifamily rental housing and principal reduction and forbearance for residential loans.
Citigroup said it would provide the consumer relief by the end of 2018.
In otherwords, Citigroup will use the 2.5 billion to fuel the marketability of a ton of real estate, and its got a comfy 4 years to make more money with it.