The San Francisco company, which has racked up big losses over the last two and a half years, signaled Tuesday that it is on a path to profitability after resolving a series of longstanding regulatory problems.
The decision by Citigroup’s board to name an independent director as its next chairman — and not elevate CEO Michael Corbat to the post — is seen as good governance, but it’s also a sign that the company’s recovery from the financial crisis remains a work in progress.
The unique approach Fannie Mae and Freddie Mac are each taking with their credit-risk transfer products is quickly becoming a key point of differentiation that's rekindling competition between the government-sponsored enterprises.
Regional lenders would be subject to less regulation while the biggest banks would see no change; the insurance giant got hit with claims from several large natural catastrophes.
When the mortgage giant will be released from government control is anyone's guess, but the company's third-quarter report shows signs of an easier transition.
The Dallas subprime auto lender seems to be reaching the bottom of its lingering supply of accounting issues, yet its origination of more loans through Fiat Chrysler underlined questions about the future of its relationship with the big carmaker.
