Citigroup

The anti-Venmo? Banks' p-to-p payment product eschews social ‘sharing’

02/21/17

When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.

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Citi agrees to $5.4M fine to settle currency collusion case

02/21/17

Citigroup agreed to pay a penalty of almost $5.4 million to settle a South African antitrust investigation that said it participated in an alleged cartel to manipulate the value of the rand.

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Citi Cuts CEO Corbat's Pay 6.1% to $15.5M

02/17/17

Michael Corbat is getting a pay cut for a year when Citigroup's profit fell 14% and return on assets failed to meet his 2016 target.

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Trump's anti-Mexico policies threaten Citibanamex, revive divestiture talk

02/03/17

The president’s vow to impose a 20% tax on Mexican imports could make life harder for the Citigroup-owned unit, which is Mexico’s second-largest bank.

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Bankers grapple with Trump's 'America First' trade agenda

02/01/17

Bank CEOs have recently raised red flags about the president's protectionist rhetoric, including his proposals to tax imports from China and Mexico. The concerns have arisen as import-export financing is already facing headwinds.

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Citi's servicing exit tips the scale toward nonbanks

01/30/17

Citigroup's plans to sell a $97 billion mortgage servicing portfolio and subservice its remaining accounts highlights the growing prevalence of nondepository servicers and raises questions about how much capacity exists for these institutions to absorb more large deals.

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Citi continues to simplify, shrink with mortgage servicing exit

01/30/17

Citigroup's decision to exit mortgage servicing by the end of 2018 is part of a long-term strategy to increase returns and sharpen the bank's focus on its core retail customers.

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Big banks struggle to understand scope, impact of Trump travel ban

01/30/17

The largest U.S. banks are treading lightly in response to President Trump's executive order banning travel to the U.S. by refugees and others from certain Muslim nations. Corporate statements emphasize the need for diversity while stopping short of outright opposition.

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Citi breaks silence, objects to Trump travel ban

01/30/17

After initially declining this weekend to weigh in on President Trump’s travel ban regarding refugees and others traveling from seven nations, Citigroup said Monday that it is worried about the order’s impact on its employees and customers.

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Citi uses mobile camera to trim card navigation steps

01/30/17

Consumers will be able to avoid manually entering a full account number on a mobile screen.

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