MILAN — Italian lender Credito Emiliano Monday said it is in exclusive talks with Citibank International, a unit of Citigroup Inc., to acquire that company's retail network of five branches in Italy.
In a joint statement with Citibank International, Credito Emiliano said that if it succeeds in acquiring Citibank's Italian private-banking operations it will merge them with its Banca Euromobiliare unit.
The two financial institution said they will provide further information as talks continue.
Unexpected changes in spending patterns on the P2P app caused the company to miss internal and analyst targets, resulting in a more cautious shift in its annual guidance and a plummeting stock in afterhours trading.
The Consumer Financial Protection Bureau will not enforce or supervise the 1071 small business lending rule, it announced in a press release. The rule requires collecting data on the race, ethnicity, gender and LGBTQ status of loan applicants.
Executives at the San Antonio bank say their business customers should be able to pass along higher costs from tariffs to consumers. Still, the bank acknowledged the risk of a recession.
The Small Business Administration is backing new legislation that would double the size limit on its manufacturing loans. Supporters say the bill has support on both sides of the aisle in Washington.
Large banks are ramping up AI investment at the same time they are reducing their workforces, though no one seems ready to publicly draw a connection between those two actions.
Ex-National Credit Union Administration board member Todd Harper outlined legal, economic and political dangers of recent firings of independent regulators.
