Sentences with phrase «unlawful foreclosure practices»

Not exact matches

The 2013 lawsuit alleged that Citigroup's directors breached their duty of loyalty in two ways: (1) by permitting Citibank to engage in unlawful foreclosure and mortgage servicing practices through the implementation of inadequate internal controls; and (2) by failing to issue a supplemental proxy describing the terms of a consent order with the Office of the Comptroller of the Currency to resolve investigations into Citibank's mortgage servicing operations, into which Citibank entered after Citigroup had issued its 2011 proxy materials, but before its 2011 shareholders» meeting.