The Federal Reserve has terminated a decade-old enforcement action against Citigroup that focused on deficiencies tied to the banking giant’s anti-money laundering (AML) practices.On Oct. 1, the central bank announced the termination of the 2013 action — one that had not carried a fine. But the action does discuss several changes to various bank-wide efforts to monitor and address risk, and to report its findings periodically to regulators.In terms of the consent order itself, the Fed had brought its action ...

Citigroup Inc. (C) and Apollo Global Management Inc. (APO) have inked a deal for a subsidiary of Citigroup and certain affiliates of Apollo to establish a revolutionary $25-billion private credit, direct lending program. The program will initially focus on North America, potentially expanding to additional geographies. Both companies expect the program to finance approximately $25 billion of debt opportunities over the next several years, including corporate and financial sponsor transactions.  Citigroup an ...

Citigroup Inc. (C) is in the limelight with the Federal Reserve’s aggressive start to monetary policy easing. During the Sept. 17-18 FOMC meeting, the Fed lowered the interest rate by 50 basis points after more than four years. Currently, the Fed fund rates stand in the 4.75-5% range. The central bank also indicated two more rate cuts this year and four in 2025. This is expected to bring rates down to 3.4% by the end of next year.The rate cut is a positive development for banks like Citigroup, Wells Fargo ( ...

The most recent trading session ended with Citigroup (C) standing at $62.58, reflecting a +0.71% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.15%.Heading into today, shares of the U.S. bank had 0% over the past month, lagging the Finance sector's gain of 3.08% and the S&P 500's gain of 2% in that time.Investors will be eager ...

Citigroup Inc.’s (C) plan to expand in China has met a snag with the U.S. regulators after the Federal Reserve imposed a penalty on the bank related to its data management and risk controls, per a Bloomberg report.The bank is currently awaiting a clearance letter from the U.S. Federal Reserve, which is required by Chinese authorities to verify Citigroup's regulatory standing. Without this letter, the bank cannot proceed with its plans to set up a standalone securities firm in China.The difficulties arose wh ...

Citi's plan to expand in China has reportedly hit a regulatory bump in America. The trouble stems from a penalty levied by the Federal Reserve against the banking giant over its data management and risk controls, Bloomberg News reported Monday (Sept. 23), citing sources familiar with the matter. According to the report, Citi faces delays in establishing a standalone securities office because it hasn't yet gotten a clearance letter from the Fed verifying its regulatory standing, something required by the gov ...

American Airlines is reportedly considering consolidating its business with a single credit card partner, potentially by making Citigroup its exclusive partner and dropping Barclays.The airline’s talks with banks and card networks are ongoing and the timing of an agreement is unknown, CNBC reported Friday (Sept. 20), citing unnamed sources.A deal could also face scrutiny from U.S. regulators, which in turn could delay or cancel any changes to the current arrangements, according to the report.Responding to t ...

The Federal Reserve’s aggressive start to monetary policy easing raised optimism among investors who expect this move to boost the profitability of Wall Street giants and smaller regional lenders. On Wednesday, the Fed Chairman, Jerome Powell, remarked the U.S. economy is "in good shape." He pointed out that risks of further cooling in the labor market have risen. With this, the central bank cut the interest rates by 50 basis points, bringing the Fed fund rates to the 4.75-5% range. This marks the end of an ...

An American Airlines' Embraer E175LR (front), an American Airlines' Boeing 737 (C) and an American Airlines' Boeing 737 are seen parked at LaGuardia Airport in Queens, New York on May 24, 2024.American Airlines is in talks to make Citigroup its exclusive credit card partner, dropping rival issuer Barclays from a partnership that dates back to the airline's 2013 takeover of US Airways, said people with knowledge of the negotiations.American has been working with banks and card networks on a new long-term dea ...

The September Federal Open Market Committee (FOMC) has become a hot topic among investors, with many believing the FED will finally begin lowering interest rates.There have been numerous different opinions on just how large the cuts ought to be, and one prominent expert – Veronica Clark of Citigroup (NYSE: C) – not only believes that 50 basis point (BPS) reduction is merited but also that America’s Central Bank is already behind the curve.The Citigroup economist, however, acknowledged that a 25 BPS decrease ...