FDIC Loan Modification Plan May Strengthen Citi's Homeowner Help Efforts
The government's rescue package for struggling banking behemoth Citigroup won't just shore up the firm's balance sheet -- it could also help more Americans avoid foreclosure.
The rescue package, which includes $306 billion in loan and securities guarantees for the bank, requires the firm to implement the Federal Deposit Insurance Corporation's mortgage modification program.
The FDIC's program is currently in place at IndyMac Bank in California, a failing institution that the FDIC took over... Full Story
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