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Citigroup will reduce some mortgage bills

NEW YORK — Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed.

Unemployed homeowners who might qualify for assistance from Citigroup under the Homeowner Unemployment Assist program include those who are 60 days or more past due on their mortgages or in foreclosure and can pay the reduced amount.

Bank of America CEO got no bonus in 2008

CHARLOTTE, N.C. — Bank of America Corp. Chief Executive Ken Lewis took home a $1.5 million salary but no bonus, restricted stock or stock options in 2008, according to a securities filing Monday.

He also tallied $275,000 in other compensation, largely for personal use of corporate aircraft.

The bank had previously said that neither Mr. Lewis nor his direct reports would receive a bonus for 2008, a year that saw the bank turn a profit but also take billions in government aid. In 2007, his take-home pay was about $10.2 million , plus a $4.2 million bonus and $4.2 million in restricted stock.

In other news

Former Hewlett-Packard Co. Chief Executive Carly Fiorina underwent surgery for breast cancer on Monday, a top aide said Tuesday.


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