Risk management

The high cost of giving banks too much slack

10/14/20

Examiners are skilled at spotting trouble but often do too little to correct it, as the latest revelations about Citi once again show. Prompt supervisory intervention is essential to protecting the integrity of the financial system.

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Citi execs silent on cost of risk overhaul

10/13/20

CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.

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Citi hit with pair of enforcement actions, fined $400M

10/07/20

The company's mistaken payment to Revlon creditors and other lapses are said to have contributed to Citi's recent leadership shake-up. On Wednesday, the OCC and Fed ordered the company to fix its risk management problems.

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Citi cleared to seek information in $900 million-error suit

09/30/20

Citigroup can seek information on the relationship between investment managers and Revlon Inc. creditors who have refused to return millions of dollars the company says it mistakenly sent them, a judge ruled.

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Results-driven Fraser just the ticket for fixing Citi, associates say

09/21/20

Jane Fraser, who is poised to become the first woman to lead a major U.S. bank, possesses turnaround experience and strong interpersonal skills that make her well suited for mending fences with regulators and investors, according to present and former colleagues.

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Citi using Revlon snafu to fix risk management

09/14/20

Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.

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Will Citi snafu bring fresh scrutiny to custodial banks?

08/25/20

Citigroup’s $900 million payment blunder in a usually sleepy part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem.

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Regions Bank's Godin to retire at year-end

08/18/20

Barb Godin, the deputy chief risk officer and chief credit officer at the Birmingham, Ala., bank, is stepping down after a 45-year career in banking.

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Citi asks Revlon lenders to return mistaken $900 million

08/14/20

The bank has recouped part of the payment, which it blamed on a clerical error, but some of the lenders say they were owed the money in connection with an ongoing dispute.

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MUFG Union Bank hires chief information security officer

08/14/20

Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016.

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