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.
The $2.1 billion settlement is likely to be the last of the big toxic mortgage cases from the financial crisis; the move pressures rivals to lower prices.
The Swiss bank allegedly hired Chinese officials’ friends and relatives to win business; JPM asked “several dozen” employees to consider moving from London.
Jelena McWilliams said the agency will ask banks what's working and what's not; the acquisition of Hyperwallet Systems lets PayPal offer more services.
Agency says it wants “smaller memberships to ensure streamlined discussions;” the bank hired a U.K. firm to help it better defend against cyberattacks.
