News Topic: Citigroup

After years of scant progress on diversity measures, Citigroup has created hard targets for raising the percentages of women and African Americans in management positions by 2021, according to an internal memo from Chief Executive Officer Michael Corbat. ... Read full article

Citigroup was so impressed after a two-year test drive of software from the AI vendor Anaconda it decided to invest in the firm. ... Read full article

The Securities and Exchange Commission sanctioned Citigroup because of unauthorized proprietary trading as well as for the failure to detect suspect loans issued by its Banamex unit. ... Read full article

Domestic card growth has not lived up to the bank’s expectations, even after its Costco coup. So it is making changes here to get product development, payments technology and card portfolio management on the same page worldwide. ... Read full article

Anand Selva, a long-time Asia hand, will head up U.S. consumer banking; several startups are backed by traditional card issuer veterans. ... Read full article

Citigroup Inc. is restructuring its consumer-banking operation in a shake-up that includes the departure of its global credit-card chief. ... Read full article

The Fed's order targets affidavits prepared by employees of CitiFinancial in connection with the company's exiting the mortgage servicing business. ... Read full article

Facebook is seeking customer data from big banks. Executives say it's not clear what the benefit would be, but the drawbacks are easy to tally. ... Read full article

With Blankfein retiring, the JPM chief will be the last crisis-era big bank CEO still in charge; earnings and big payouts are boosting bank equity prices. ... Read full article

The trend poses challenges for banks, which have long required customers who want fees waived to put in their own effort. ... Read full article

Jamie Dimon and Lloyd Blankfein remain prominent public figures, but many other crisis-era CEOs have kept low profiles over the past decade. ... Read full article

The letter from 29 Republicans, including some who may chair the House Financial Services Committee next year, urges the Federal Reserve’s top regulator to ‘recalibrate’ the capital surcharge for banks like JPMorgan Chase and Citigroup. ... Read full article

The Stamford, Conn., issuer of store credit cards has two potential options after the retail giant chose to partner with Capital One. But the decision over which path to take is out of its hands. ... Read full article

Citi and other banks are investing in automation aimed at speeding up the old-fashioned process for institutional clients' receivables and payables. ... Read full article

Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide. ... Read full article

Citigroup's traders underperformed their peers at JPMorgan, and Citi's U.S.-branded card revenue fell. Its global business performed well, but the looming trade war presents uncertainty. ... Read full article

The change in store card branding would be a big blow to Synchrony; “equivalence” with EU rules “falls far short” of U.S. banks’ hopes. ... Read full article

U.S. financial institutions such as Bank of America, Citigroup, JPMorgan Chase and Goldman Sachs have reported hundreds of millions of dollars of losses stemming from the scandal at retailer Steinhoff International. ... Read full article