Regulators need a principles-based approach that seeks to position boards as watchtowers for their banks while not subjecting directors to overly burdensome restrictions.
The Louisiana company, which recorded a large loan-loss provision to cover energy-related chargeoffs, also disclosed a new regulatory order from the Office of the Comptroller of the Currency.
Citigroup hopes to return $60 billion to shareholders by 2020 while earning $20 billion a year; SEC says companies that raise money by selling their own electronic tokens for cryptocurrencies may be subject to federal oversight.
The company agreed to buy MainSource Financial in Indiana for $1 billion, creating a Midwestern bank that will have more than 200 branches and $13 billion in assets.
The federal agency's investigative report concludes that crowdsales of blockchain tokens known as initial coin offerings may need to comply with securities laws.
