Julia Carreon is suing the bank, alleging she suffered race and sex discrimination, including sexual harassment by Andy Sieg, the bank's head of wealth management. On Tuesday, Citi hit back by filing a petition to compel arbitration and accusing Carreon of making false claims.

A week after President Trump demanded a 10% cap on credit card interest rates, top executives at big banks protested the idea in blunt terms.

The megabank's net income declined by 13% during the fourth quarter as a result of a $1.2 billion pretax loss on sale related to the divestiture of its remaining operations in Russia.

"These changes reflect adjustments we're making to ensure our staffing levels, locations and expertise align with current business needs; efficiencies we have gained through technology; and progress against our transformation work," the company said in a statement.

New research from American Banker details how the 50 largest U.S. banks by U.S. assets are using stablecoins, cryptocurrencies and other distributed ledger technology.

Cockroaches, crazy work and shots in the butt: Here are some of the most quotable bank CEOs of 2025.

Ida Liu, who resigned from Citi earlier this year, will join HSBC on Jan. 5 as the CEO of the private bank. Liu will be tasked with accelerating the growth of the private bank "at a defining moment for wealth," she said in a LinkedIn post.

The megabank cleared a regulatory hurdle when the Office of the Comptroller of the Currency freed it from a July 2024 amendment to a consent order. Two other orders, one from the OCC and the other from the Federal Reserve, remain in place.

The New York megabank, which completed the sale of a 25% equity stake in its Mexico retail business, has been exiting certain international markets as part of CEO Jane Fraser's focus on being a simpler, smaller bank.

The discussions are expected to focus on bankers' opposition to allowing interest payments on stablecoins, along with the ability of banks to compete in the crypto space and preventing the use of cryptocurrencies to facilitate illegal activities.

For banks, construction projects not only produce new branches and offices, but can build an image with the public — or tear it down.

U.S. commercial banks and savings banks have reduced employment by nearly 81,000 since the first quarter of 2023, including a net loss of 7,463 positions during the third quarter of this year, according to a new report from KRBA Financial Intelligence. Big banks, which have been embracing artificial intelligence, were big contributors to the decline.

The New York bank already offers tokenized deposits, which allows global clients to move money around the world instantly, and it's building a crypto custody platform.

The megabank laid out a series of changes, including the impending departure of its chief financial officer and other executive shifts related to a revamp of its U.S. personal banking line of business.

Reskilling and giving AI the boring work are two approaches banks take to making agentic AI palatable to workers who may fear that bots will take their jobs.

Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.

Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.

The megabank's multiyear effort to simplify its business model and improve its risk management is starting to pay off in the form of more consistent profitability and improved returns, CEO Jane Fraser told analysts.

Habner, Head of U.S. Branded Cards and Lending at Citi, sits down with American Banker Editor-in-Chief Chana Schoenberger to discuss the credit card market.

Fintechs and banks are rapidly placing checkout inside apps, e-commerce sites and travel services, standing on the shoulders of a new generation of artificial intelligence and data science to revolutionize customer experience. Some of the bank executives leading the charge spoke with American Banker about the innovation's potential.