The San Francisco bank is adding $32 million to a previously announced agreement, and also extending it back to 2002, in the wake of a report on the roots of the firm's sales scandal.
Citi has named David Chubak as head of global retail banking and mortgage for the global consumer bank, replacing Jonathan Larsen, who resigned late last year.
A Trump administration budget proposal to end federal funding for community development financial institutions would push small businesses to high-risk, high-cost lenders.
Working primarily with community banks, Promontory Local Credit will provide second-lien loans to small firms, potentially increasing their available credit by 50%.
Stock plunges more than 50% after CFPB, states sue subprime loan servicer for allegedly abusing customers; regional bank looks to underprice Amex and JPMorgan's upscale credit cards.
