Bank of America and Citigroup trimmed compensation for their chief executives in 2020, a year in which banks exercised restraint in compensating employees as the pandemic ravaged the economy.

Still under fire for financing oil-and-gas exploration, banks are now being criticized for bankrolling producers of the single-use bottles and wrappers that are piling up in landfills and waterways. How will they respond to the mounting pressure from environmentalists?

Citigroup will refund an additional $4.2 million to some credit card customers who were overcharged years ago.

Citigroup’s incoming CEO, Jane Fraser, created a new global operating team aimed at improving accountability among its top executives, as the firm continues to address a litany of concerns raised by regulators last year.

The bank considered terminating the relationship with professional golfer Justin Thomas, but instead decided to use his platform to increase awareness of discrimination against the LGBTQ community, Chief Marketing Officer Carla Hassan said Monday in a blog post.

Citigroup, one of the few companies to offer a frank assessment of the difference in wages it pays to men and women, has made gradual progress toward narrowing that gap.

Citigroup will reduce bonuses for dozens of its top executives after the bank was reprimanded by regulators last year.

Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity.

However, it beat analysts' estimates thanks to a big reserve release, a smaller-than-expected rise in expenses and other factors.

The new global wealth division, which is being formed by combining the firm’s private bank with a unit that serves substantially less wealthy households, will be led by Citi veteran Jim O’Donnell.

In a memo to staff on Tuesday, Citigroup announced a new head of U.S. consumer banking and said that two of its other high-ranking bankers would essentially switch roles.

The actions follow earlier announcements from Marriott International, Blue Cross Blue Shield and Commerce Bancshares, which said they are suspending financial support for all lawmakers who voted against certifying Joe Biden's election as president.

Citigroup promoted 70 women in its latest class of managing directors, the most ever but still less than a third of the total.

Win or lose, Citibank’s battle to recover half a billion dollars from an accidental payment is sure to prompt a review of internal controls in the industry and could have a lasting impact on the more than $1 trillion syndicated loan market.

Citigroup found that the rapid enactment of a carbon tax would likely lead to a significant increase in losses on loans the bank has made to certain oil and gas companies.

Citigroup will soon offer workers the ability to take a 12-week sabbatical as part of a bevy of new employee perks in the wake of the coronavirus pandemic.

Citigroup is following up on a September promise to help these minority depository institutions finance as much as $50 million in affordable multifamily rental housing.

The company’s noninterest expenses are expected to rise more than $500 million next year, largely because of a revamp of risk management and internal controls mandated by regulators.

Citigroup appointed Elissar Farah Antonios as the first woman to run its Middle East and North Africa operations, among the U.S. bank’s fastest-growing businesses in emerging markets.

A trial to get underway this week over one of the biggest banking errors in recent memory will be closely watched on Wall Street, and its outcome could have a significant impact on the industry.