Receive Breaking News updates as they occur
By Anil D'Silva (Reuters) - Citigroup Inc said it agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis. The settlement figure was more that twice what many analysts expected earlier this year but less than the $12 billion the government had sought in negotiations with the bank. Citigroup said it took a related pre-tax charge of about $3.8 billion in the second quarter. Citigroup's shares were up 3.9 percent at $48.82 in premarket trading on Monday.