WASHINGTON (AP) -- The Justice Department is finalizing a lawsuit against Citigroup over the bank's sale of residential mortgage-backed securities after negotiations to resolve the matter broke down.<br />
Two people with direct knowledge of the matter say negotiations between the Justice Department and the bank fell apart this week. They said a lawsuit from the federal government could be filed as early as next week.<br />
The people spoke on condition of anonymity because they weren't authorized to be quoted by name when discussing a complaint that has not yet been filed.<br />
One of the people said the bank offered to pay less than $4 billion to settle the investigation, substantially less than what the Justice Department is demanding.<br />
Spokesmen in New York for Citigroup didn't immediately return calls seeking comment Friday.
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
House Republican leaders rallied around one of their own, Whip Steve Scalise, on Tuesday after he said he regrets speaking 12 years ago to a white supremacist organization and condemns the views of such groups.
President Vladimir Putin's chief political foe was convicted along with his brother on Tuesday in a fraud case widely seen as a vendetta by the Kremlin, triggering one of Russia's boldest anti-government demonstrations in years.
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