In a story Nov. 14 about Citigroup Inc. and Deutsche Bank agreeing to pay a total of $165.5 million to settle claims that they misled five failed credit unions about the risk of securities tied to mortgages, The Associated Press reported erroneously that both banks neither admitted nor denied wrongdoing. The settlements announced by the National Credit Union Administration only specified that the banks did not admit any fault on their part. Citigroup says that it did deny wrongdoing in the settlement, whose terms are confidential. Deutsche Bank says it is pleased to have settled the claims without the sides having to engage in litigation.




TOWNHALL MEDIA GROUP