NEW YORK, July 29 (UPI) -- Citigroup and two former executives agreed to settle a U.S. Securities and Exchange complaint for $75 million with small fines tacked on for the executives.

The SEC said Thursday the bank was less than truthful about the extent of its subprime mortgage assets in 2007 and 2008 just as the financial crisis was beginning to escalate through the banking community.

In an unusual move, the SEC named two executives in the complaints. Former Chief Financial Officer Gary Crittenden and former head of investor relations Arthur Tildesley Jr. agreed to pay $100,000 and $80,000, respectively, to settle complaints against them.

"The rules of financial disclosure are simple. If you choose to speak, speak in full- and not in half-truths," said SEC Director of Enforcement Robert Khuzami.

In a statement, the bank, which did not admit to any guilt, said: "We are pleased that we have reached an agreement with the SEC to put this matter concerning certain 2007 disclosures behind us," The New York Times reported.