Citigroup Profit Rises On Asset Sale Gain, Lower Costs
Citigroup Inc. reported a higher quarterly profit as it kept costs lower, recorded a large gain from an asset sale and had a smaller-than-expected decline in trading revenue.
Impact On Banks From Britain’s Vote To Leave The EU
Global banks have said they could move thousands of jobs out of Britain to prepare for Brexit, the country’s planned exit from the European Union.
Bank Of America Shareholders Revive Chairman Debate
Bank of America Corp. Chairman and CEO Brian Moynihan will once again face a shareholder vote on whether he should maintain both roles, according to the bank’s proxy filing on Wednesday.
Citigroup Quietly Launches Small Business Lending Website
Citigroup Inc. has quietly launched a website to make small business loans of up to $1 million, the latest effort by a big bank to make the process of smaller loans more technologically friendly.
Citigroup Fined $28.8M For Harm To Home Borrowers
Citigroup Inc. mortgage units have been fined $28.8 million for keeping home borrowers in the dark about options to avoid foreclosure and making it difficult for them to apply for relief, the U.S. consumer finance watchdog said on Monday.
Citigroup ‘Boys’ Club’ Disfavors Women, Lawsuit Claims
A former Citigroup Inc. financial adviser on Monday filed a lawsuit accusing the bank of running a “boys’ club” that favored men over women, treating her as a “glorified secretary,” and firing her in retaliation for whistleblowing activity.
Citigroup Quarterly Profit Falls 10.5 Percent
Citigroup Inc., the fourth-biggest U.S. bank by assets, reported a 10.5 percent fall in quarterly profit on Friday, hurt by lower revenue from equity trading.
Citigroup Beats $800M Appeal By One-Time Billionaire
A federal appeals court rejected a one-time Florida billionaire’s bid to revive his $800 million lawsuit accusing Citigroup Inc. of fraudulently hiding its exposure to subprime and other toxic mortgages, inducing him to hold on to shares he otherwise would have sold.
Citi Profit Slumps On Weak Trading, Investment Banking Revenue
Citigroup Inc.’s quarterly profit plunged 27 percent as it earned less from trading and investment banking and incurred higher costs related to shrinking some of its businesses. The profit decline is the biggest among big U.S. banks that have reported first-quarter...
Citigroup Executives Avoid US Charges Over Mortgage Bonds
U.S. authorities have decided not to pursue criminal charges against any Citigroup Inc. executives or employees involved in packaging and selling mortgage-backed securities at the heart of the 2008 financial crisis, a government report shows. The decision, which...Goldman Slashes Legal Cost Estimate
Goldman Sachs Group Inc. cut the upper end of its estimate of legal costs it may face beyond what it has set aside by more than half to $2 billion. The bank had estimated in November legal expenses of up to $5.3 billion above what it had already set aside. The Wall...Wells Fargo Profit Slips Amid Concerns About Sour Energy Loans
Wells Fargo & Co., the biggest U.S. residential mortgage lender and a major lender to the energy industry, reported a slight dip in quarterly profit on Friday as it set aside more money to cover bad loans to oil and gas companies. Wells Fargo – whose latest...Morgan Stanley Turns To Stodgy Bank Accounts To Boost Profit
Morgan Stanley, better known for underwriting bonds than for retail banking, plans to offer savings accounts and certificates of deposits next year to wring more profit from its wealth management clients, executives told Reuters. The bank has offered checking accounts...
