Missing Citigroup Checks Spur Lawmaker to Call for Investigation

(Bloomberg) — Citigroup Inc.’s failure to pay 24,000 people owed money as part of a settlement with the government over foreclosure abuses has prompted a U.S. lawmaker to call for an investigation into whether banks missed other borrowers.

Maxine Waters, the senior Democrat on the House Financial Services Committee, sent a letter Friday to the inspectors general of the Federal Reserve and the Treasury Department seeking an examination. Her request pertains to a 2013 accord in which lenders agreed to pay $10 billion to resolve allegations that they improperly initiated hundreds of thousands of foreclosures following the housing bust.

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