Citigroup Inc. announced that, as part of its continued efforts to reduce its operations and exposure in Russia, it will wind down its consumer banking and local commercial banking operations in the country. As part of the wind-down, Citi will also...
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August 26, 2022, 07:12 AM
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Banks including Wells Fargo & Co., Citigroup Inc., PNC Financial Services Group Inc. and CIT Group Inc. own hundreds of thousands of railcars that carry coal, grain and other commodities through North America. It is an unusual line of business for...
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December 27, 2019, 07:30 AM
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CIT Group announced the appointment of Paul Tufaro as Executive Vice President, Chief Compliance Officer, effective immediately. Tufaro will report to Executive Vice President and Chief Risk Officer Robert Rowe. "Paul's vast experience leading...
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January 18, 2017, 07:30 AM
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The Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine sent a letter to Federal Reserve Chair Janet Yellen, Comptroller of the Currency Thomas Curry, FDIC Chairman Martin Gruenberg, Securities and Exchange Commission...
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June 02, 2015, 07:07 AM
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Citigroup announced that it has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities (RMBS) Working Group, part of the Financial Fraud Enforcement Task Force. The agreement resolves actual and...
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July 15, 2014, 07:00 AM
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Bloomberg reported the biggest U.S. banks including JPMorgan Chase & Co. and Citigroup Inc. are lending the smallest portion of their deposits in five years. The reports cites data compiled by Credit Suisse Group AG which shows the average...
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February 21, 2013, 07:29 AM
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The Board of Directors of Citigroup announced yesterday that Vikram Pandit has stepped down as the Company’s Chief Executive Officer and as a member of the Board, effective immediately. The Board also announced it has unanimously elected Michael...
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October 17, 2012, 07:05 AM
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After being rigged by some of the world’s biggest financial institutions, the London interbank offered rate, the benchmark for more than $300 trillion of securities and loans, is now increasingly being set by a smaller group of banks.Bank of America...
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October 08, 2012, 07:32 AM
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Bloomberg reported the U.S. Treasury is offering to sell $18 billion of American International Group Inc. (AIG) shares in a transaction that is likely to cut taxpayers’ stake in the firm to below 50% for the first time since its 2008 bailout....
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September 10, 2012, 07:40 AM
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Reuters reported that nine of the largest global banks expressed confidence they can be salvaged or dismantled without taxpayer bailouts if they became insolvent, as U.S. regulators released public portions of these banks' "living wills".According to...
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July 05, 2012, 08:00 AM
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Reuters reported that five of the largest U.S. banks are crafting plans for going out of business as part of the government-mandated contingency planning created by the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts from the...
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June 27, 2012, 08:00 AM
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The following is an excerpt of the press release issued by Moody's Investors Service.New York, June 21, 2012 – Moody's Investors Service today repositioned the ratings of 15 banks and securities firms with global capital markets operations. The...
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June 22, 2012, 07:45 AM
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Bloomberg reported the largest U.S. banks, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., told the Federal Reserve that a limit on their credit exposure is unnecessary and “fundamentally flawed.” According to the report, the Federal...
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April 30, 2012, 07:30 AM
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Bloomberg Businessweek reported that the Federal Reserve Bank of New York is seeking bids for $7.49 billion of collateralized debt obligations linked to commercial mortgages it took on in the 2008 bailout of American International Group Inc. (AIG)....
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April 19, 2012, 07:00 AM
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The New York Times reported that Moody’s Investor Service said it will decide in mid-May whether to lower the credit ratings of 17 global financial companies. The report cites Morgan Stanley to be the most vulnerable and that Moody’s may cut the...
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March 30, 2012, 08:15 AM
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Bloomberg reported that Bank of America Corp., JPMorgan Chase & Co., Wells Fargo, Citigroup and Ally Financial (GMAC) reached a $25 billion settlement with 49 states and the federal government related to abusive foreclosure practices in the wake of...
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February 10, 2012, 07:30 AM
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