CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.
The San Francisco bank reported record loan originations thanks to explosive growth in single-family home loans, and profits beat analysts' expectations.
The banking giant may be sitting pretty with plenty of money reserved for bad loans — or it could have to set aside billions more in coming quarters. It hinges on an ongoing U.S. recovery and the passage of a new stimulus package.
Mobile and online banking technologies that the Toronto bank previously rolled out, including a virtual assistant developed by Kasisto and money management tools made by Moven, have become much more popular since the arrival of COVID-19.
Steve Ewers, who has held several positions in information technology, will replace retiring President and CEO Tammy Heikkinen, who has led the Duluth, Minn.-based institution for 12 years.
A survey sent to workers in New York, New Jersey and Connecticut last month found that most wanted to start by returning to the office just a few days a week.
Credit unions' credit and debit card portfolios could see a surge this week as the online retailer offers two days of deals, while the industry's regulator is set for a cybersecurity update.
Citigroup posted its biggest quarterly profit of the pandemic after reaping another windfall from trading bonds and expressing newfound confidence in the resilience of its loan book.
Big banks are expected to have another bad quarter, but not as bad as Q2, when they took large default charges; the apps have made it a little too easy to transfer money, especially for thieves.
