A look at major financial settlements, at a glance

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Associated Press

Posted on June 27, 2012 at 4:00 PM

Updated Wednesday, Jun 27 at 4:02 PM

Barclays PLC and its subsidiaries will pay about $453 million to settle charges that they tried to manipulate interest rates that can affect how much people pay for loans to attend college or buy a house.

The incidents occurred between 2005 and 2009, the U.S. Commodity Futures Trading Commission said Wednesday.

Barclays will pay a $200 million civil penalty to the CFTC, the largest in the agency's history. Barclays also agreed to pay $160 million as part of an agreement with the Justice Department's criminal division on a related matter and nearly $93 million to British regulators.

Here is a look at other major settlements regulators have reached since the 2008 financial crisis.

GOLDMAN SACHS & CO.

The giant Wall Street firm agreed to pay $550 million in July 2010 to settle civil fraud charges brought by the Securities and Exchange Commission. The SEC said Goldman had misled buyers of mortgage-related investments. Under the agreement, Goldman said it would pay $300 million in fines to the SEC and the rest of the money would go to compensate those who lost their investments. It was the largest penalty against a financial company in SEC history.

COUNTRYWIDE FINANCIAL CORP.

Angelo Mozilo, the co-founder and CEO of the failed mortgage lender, agreed to a $67.5 million settlement with the SEC in October 2010 to avoid a trial on civil fraud and insider trading charges. He was accused of misleading investors about the health of Countrywide's mortgage business. The SEC said Mozilo also sold $140 million in Countrywide stock while he had inside information about the company's increasing risk from bad home loans.

JPMORGAN CHASE & CO.

The nation's largest bank agreed in June 2011 to pay $153.6 million to settle civil fraud charges brought by the SEC. The bank was accused of misleading buyers of complex mortgage investments just as the housing market was collapsing. The SEC said that a division of the Wall Street bank failed to tell investors that a hedge fund helped select the investment portfolio and then bet that the portfolio would fail.

CITIGROUP

The bank in July 2011 agreed to pay $75 million to settle civil charges with the SEC that it had understated Citi's exposure to risky subprime mortgages.

Former Citigroup Chief Financial Officer Gary Crittenden agreed to pay $100,000 in civil penalties and Arthur Tildesley Jr., the bank's former head of investor relations, agreed to pay $80,000 in civil penalties. The two were accused of failing to disclose more than $50 billion worth of potential losses from subprime mortgages.

Citigroup also agreed to a separate $285 million settlement with the SEC. The SEC alleged that Citi steered investors toward a complete mortgage investment that it bet against in 2007. But the deal was struck down in November by a federal judge in New York City who said he could not determine whether the deal was fair.

INDYMAC BANK

The SEC in February 2011 brought civil fraud charges against three former IndyMac executives. Blair Abernathy, a former chief financial officer, agreed to pay more than $125,000 to settle the charges against him without admitting wrongdoing.

The SEC charged Abernathy and the other two executives of misleading investors about the mortgage lender's finances before it collapsed in July 2008. The collapse and seizure by the government of IndyMac Bank with about $30.2 billion in assets was one of the biggest bank failures in U.S. history.

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