Citi had been courting wealthy investors to buy a chunk of Banamex that could be built into a controlling stake after a plan to sell the Mexican unit outright fell apart,

Sen's remit spans domestic and cross-border payments, commercial cards, clearing, and payments acceptance.

Bloomberg reports that Citi has enlisted a law firm to look into complaints about Andy Sieg's behavior to current and former colleagues, including former private banking head Ida Liu.

Citigroup's new treasury partnership with Payoneer and JPMorganChase's deposit token are pressuring banks to quickly come up with a "vision," according to payment experts.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

The bank is hiring Aashish Dhakad from Ares Management Corp. to become head of private credit origination for North America.

In New York City and elsewhere, financial institutions are taking stock of their office-building security protocols following the killing of four people, including an investment bank executive, in Midtown Manhattan. Security experts say that layers of protection are essential in all office buildings.

Kate Luft, a former chief of staff for Citi CEO Jane Fraser, is now running the company's U.S. retail banking business. In her first interview since getting the job, Luft discussed what banks can learn from airlines and the advantages that incumbents have over fintechs.

With the big banks honing in on Amex's high-end card turf, Steve Squeri said his company's past success will drive the future.

With the GENIUS Act near the finish line, top execs are revealing their plans for the digital asset during calls with analysts.

The global bank reported solid second-quarter results as executives maintain confidence in the bank's ability to achieve a return on tangible common equity of 10-11% next year. But an analyst said Citi's progress on reducing expenses will hinge on its ability to get freed from various enforcement actions.

The bank is using Cognition's Devin AI agent to automate simple tasks for programmers, with human controls.

The megabank announced it would invest $16 million to grow its footprint in the North Carolina banking mecca.

It's early, but financial institutions are getting ready to issue the digital asset.

The Texas attorney general has accused WEX Bank of "debanking" a firearm supplier, but the Maine-based bank said it does not discriminate against any industry.

Since the end of COVID, each bank has set its own rules for how often employees need to show up at the office. Here's how a dozen lenders are handling the shift.

Citigroup is on a quest to modernize its global payments stack and be the go-to financial institution for cross-border payments and international corporations. Debopama Sen, head of payments at Citi's Services business, spoke with American Banker about the divisions' progress since its Services Investor Day in June 2024.

In 2021, banks pledged to wind down their support for oil and gas. Last year they made a $162 billion U-turn, according to a new report from a coalition of advocacy groups.

The megabank is also updating certain policies to bar discrimination based on political affiliation. "We appreciate the concerns that are being raised regarding 'fair access' to banking services," a Citigroup executive wrote in an internal memo.

BNY, Goldman Sachs, JPMorganChase and State Street are among those scored lowest by Sinergia Animal, despite pressure from shareholder activists to stop financing companies that exploit animals.