As the potential for a recession looms, the New York bank is continuing with its plan to grow wealth management and shrink its foreign consumer banking footprint.

Warren Buffett's Berkshire Hathaway, which cut many bank holdings as the pandemic bore down on the U.S., is back with a roughly $2.9 billion bet on Jane Fraser’s Citigroup even as it said goodbye to a longtime stake in Wells Fargo.

The wealth programs in the channel are going through a significant shift amid major recruiting moves and consolidation, according to a consultant’s report.

Ana Botin, the chair of Banco Santander, called Mexico a “growth engine” for the bank but cautioned that the lender would only seek to buy Citigroup’s retail business in the country if certain requirements are met.

The move from Republican senators mirrors an effort launched in the House, where Citibank also provides credit cards for congressional business. Republicans will be unable to enact such changes unless they take either chamber in upcoming elections.

The Office of the Comptroller of the Currency's decision to lift the order is a win for Citi, which has been working to address two other, more recent consent orders with the OCC and the Federal Reserve.

Despite better-than-expected trading results, Citigroup reported a 46% decline in first-quarter earnings stemming largely from soaring noninterest costs and a $1.9 billion provision for souring loans tied to Russia.

Two Republican lawmakers are calling for the cancellation of U.S. government contracts with Citigroup after the banking giant vowed to cover travel costs for employees seeking abortions

Citigroup agreed to sell its India retail banking business for about 123 billion rupees ($1.6 billion) cash to Axis Bank, as the U.S. lender seeks to consolidate its operations in identified markets.