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Monday Express: Citi to pay $8.6M fine; DOJ begins tax-credit probe on Wells

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Monday Express: Citi to pay $8.6M fine; DOJ begins tax-credit probe on Wells

* The Federal Reserve fined Citigroup $8.6 million over its "deficient" execution and notarization of certain mortgage-related affidavits.

* The Department of Justice is investigating Wells Fargo for collusion on tax credits on the bank's deals with low-income housing developers, sources told Bloomberg News.

* The Consumer Financial Protection Bureau imposed a $69 million penalty against Richard Moseley Sr. and his co-defendants for running an illegal payday loan scheme. But due to their "limited ability to pay," the group would only need to pay $1.

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