Citigroup recorded a $1.3 billion reserve build tied to its exposure in Argentina and Russia, it said in a filing.

After being undercapitalized for decades, some minority-led banks finally got large capital infusions in the wake of George Floyd's murder. But higher interest rates have made it harder for them to gather the deposits they need to boost lending substantially.

Executives at America's largest banks are making rosier predictions about the financial health of U.S. households than they were a year ago, when their forecasts proved to be overly pessimistic.

JPMorgan Chase and Citigroup were among the banks that voluntarily reported new information this year about the impact of their operations on climate change. The additional disclosures came in advance of new regulations that are expected in 2024 from the Securities and Exchange Commission.

Despite tougher economic conditions, BNPL lenders are driving growth by expanding to new audiences and checkout channels, as well as fine-tuning proprietary risk-management models.

Of the 11 women on our list, only one – Citi's Jane Fraser – leads one of the U.S.'s 50 largest banks.

Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.

As CEO Jane Fraser's restructuring of the embattled bank takes shape, the decisions show Citi's willingness to part with certain franchises, even if they are competitive, in the pursuit of lifting returns in line with major U.S. peers.

At the heart of Ardith Lindsey's Nov. 20 lawsuit are allegations that Mani Singh, another Citigroup managing director who was always more senior than her, coerced her into an abusive relationship and threatened her and her family with violence after she ended it in October 2022.

Rewards jumped as the Covid-19 pandemic spurred trading and deals in 2020, eventually setting off a war for talent. They then collapsed last year as rising interest rates put a damper on client activity — a malaise that stretched through 2023.

The Ohio Democrat is pressuring the CEOs of JPMorgan Chase, Bank of America, Citigroup and Wells Fargo to proactively provide financial benefits to active-duty service members. Those protections are enshrined in a 2003 law, but many service members do not seek them out.

After months of speculation, the firm confirmed it would "wind down" its municipal underwriting and market-making activities after a "broad-based review" of its muni business, according to a company memo.

The New York-based lender has already cut more than 300 senior management roles as part of a revamp. Those are part of a wider staff cull that is expected to continue into 2024.

The change comes over massive overhaul as the mega bank seeks to build divison under Sieg.

Citi is among an increasing number of global banks that's now building out desks to finance carbon offset projects, trade credits and advise corporate buyers in the hope of latching on to growth in a market that may reach $1 trillion.

More than half of those elevated to the senior role were women or people of color, marking the fourth consecutive year that historically underrepresented groups made up the majority of the class.

Five large U.S. banks are among 50 global financial institutions that climate activists are targeting as they push to end financing of metallurgical coal projects.

The megabank, which is in the midst of a massive restructuring, will probably book "a couple of hundred million dollars" of restructuring charges in the fourth quarter, according to its chief financial officer.

Banks including Morgan Stanley, HSBC, Goldman Sachs and JPMorgan Chase have announced individual sustainable finance targets for 2030 that range from $750 billion to $2.5 trillion. Yet such statements leave investors with little real insight into the very different ways in which banks are defining what's sustainable.

A group of about 10 bankers reportedly is departing Citi for Jefferies.