By musiclover - Mon Nov 28, 7:43 pm

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Edited bymusiclover

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Citigroup faces a day of reckoning in court after a New York judge struck down a $285m settlement the bank reached with its financial regulator, arguing that the deal obscured an “overriding public interest in knowing the truth”.

Legal experts said the move could put pressure on the SEC to stop the “legal charade” of imposing fines without demanding an admission of liability, a common practice between regulator and Wall Street banks.

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