WINTER WEATHER ADVISORY & WINTER STORM WARNING

SATURDAY EVENING THROUGH EARLY MONDAY

 A strong storm will be crossing the Ohio Valley Sunday, bringing snow to West Michigan, with some areas perhaps seeing as much as 10-14" of accumulation. Snowfall will be heaviest south as opposed to north, so near/south of I-94 is where the highest accumulations are expected... 10-14" possible. However, Allegan, Barry, Ionia, Ottawa, and Kent could see anywhere from 6-10". Additionally, gusty winds will be blowing the snow quite a bit, causing drifting on roads along with poor visibility. Travel is discouraged from late Saturday night through Sunday night.

The National Weather Service has issued a WINTER STORM WARNING for the following counties in West Michigan, effective until 6 am Monday: Allegan, Barry, Berrien, Calhoun, Cass, Kalamazoo, Kent, Ionia, Ottawa, Van Buren,  St.Joseph, Branch, and Hillsdale. WINTER WEATHER ADVISORY for Muskegon, Newaygo, Mecosta, and Montcalm  until 6 am Monday.

Stay with Newschannel 3 and wwmt.com for the latest updates.

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Citigroup settles subprime mortgage case for $7B

Updated: Monday, July 14, 2014

WASHINGTON (AP) - Citigroup will pay roughly $7 billion to settle an investigation into risky subprime mortgages, the type that helped fuel the financial crisis.
    
The agreement announced Monday comes weeks after talks between the two sides broke down, prompting the Justice Department to warn that it would sue one of the nation's biggest banks.
    
The settlement stems from the sale of securities made up of subprime mortgages which fueled the boom and bust that triggered the Great Recession in 2007.
    
Citigroup, among other banks, downplayed the risks of subprime mortgages when packaging them selling them to mutual funds, investment trusts, pensions, as well as other banks and investors.
    
J.P. Morgan is the only other major U.S. bank to settle so far, though Bank of America is reportedly in talks to do so

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