Feds probe Citi?

Citigroup has struggled more than most banks since it was bailed out by Uncle Sam during the depths of the 2008 finanical crisis. Since then, it has undergone a handful of management shake-ups, battled questions about duvious foreclosure practices, fended off allegations of lax money-laundering protections and faced a number of probes into its banking practices. Just last week, the Federal Reserve rejected Citi’s plan to raise its shareholder dividend and jack up its stock buyback plan, on concerns about how much capital the bank has on hand. Now, the bank’s troubles just got worse. The FBI has reportedly launched a criminal investigation into the banks role in a $400 million fraud involving its Mexican banking unit.

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