Tag: Citigroup

Thursday, September 11th 2014 - 04:48 UTC
Judge Griesa will wait for appeals court ruling before acting on holdouts' Citibank subpoena

US district judge Thomas Griesa has said he would wait for a decision on a pending appeal before ordering Citigroup to comply with a subpoena served by holdout investors seeking details of any threats from Argentina to process payments the court had blocked.
Tuesday, July 15th 2014 - 06:49 UTC
Citigroup agrees to pay 7bn dollars to settle sub-prime mortgages investigation

Banking giant Citigroup will pay 7bn dollars to US authorities to settle an investigation into risky sub-prime mortgages. Citigroup will pay 4bn to the Department of Justice and 2.5bn for “consumer relief”.
Friday, March 28th 2014 - 06:31 UTC
US Fed rejects Citigroup plans to boost dividends for shareholders

US Federal Reserve has rejected plans by Citigroup to buy back shares and boost dividends for shareholders. It cited deficiencies in the bank's ability to plan for how stressful situations would hurt its business. The decision is a setback for Citigroup boss Michael Corbat who was brought in to bolster internal controls after the bank failed stress tests two years ago.
Saturday, July 27th 2013 - 20:13 UTC
US largest bank moving out of the commodities business; Congress investigation

New York-based JPMorgan, the largest US bank, said that it’s “pursuing strategic alternatives,” including the sale or spin-off of its commodities business, after an internal review. The statement came three days after a US congressional hearing investigated whether deposit-taking banks should be allowed to trade raw materials such as oil and industrial metals.
Wednesday, October 17th 2012 - 04:51 UTC
Citigroup CEO who steered the bank through the crisis resigns immediate effect

Citigroup chief executive Vikram Pandit has surprised Wall Street by resigning with immediate effect. Mr Pandit is being replaced by Michael Corbat, who was previously the bank's chief for Europe, the Middle East and Africa.
Tuesday, December 7th 2010 - 18:46 UTC
US Treasury admits making 12 billion profit with Citigroup rescue package

The US Treasury has sold its remaining stake in Citigroup, in a deal which it says will make a 12 billion USD profit on its overall investment. Citigroup was one of the worst victims of the financial crisis, and the US government stepped in with 45 billion bail-out cash in 2008 and 2009.
Wednesday, October 20th 2010 - 03:06 UTC
US Treasury launches fourth sale of Citigroup common stock

The US Treasury Department said it has launched a fourth sale of 1.5 billion shares of Citigroup Inc common stock under a prearranged trading plan.
Friday, May 14th 2010 - 04:05 UTC
US Looking into Possible Banks-Credit Rating Agencies Collusion

Eight banks are facing a US investigation into the rating of their mortgage products, the BBC understands. New York Attorney General Andrew Cuomo is looking at whether the relationship between the banks and credit rating agencies was manipulated to gain better ratings for risky securities.