Regulation
The Federal Reserve will begin shedding as much as $47.5 billion of assets monthly starting June 1 to tamp down on inflation. But doing so could undermine the banking industry’s preferred source of liquidity.
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A clear, cross-agency regulatory framework is needed to help the industry embrace the promise of this new financial services paradigm.
May 16 -
Tom Anderson currently serves in a compliance role overseeing personal banking and wealth management at Citi. He will succeed Mary McNiff, who is moving into a new position at the $2.4 trillion-asset bank.
May 12
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The Minneapolis company, which previously said it expected the $8 billion acquisition to close in the first half of 2022, has become less firm about that projection.
May 4 -
Citigroup has been released from a 2012 enforcement action that faulted its anti-money-laundering efforts. But company executives are expected to spend a lot of time over the next few years seeking to resolve a pair of more recent consent orders.
May 2 -
The two companies, which have not received government approval to complete their now year-old pending deal, postponed the deadline to Oct. 31 and have decided to make the combined entity a national bank.
April 27 -
Consumer Financial Protection Bureau Director Rohit Chopra pushed back aggressively against allegations by Senate Republicans at a congressional hearing Tuesday that he helped orchestrate a “hostile takeover” of the Federal Deposit Insurance Corp.
April 26 -
First Horizon Advisors resolved a supervisory investigation involving a former rep after its parent firm announced it’s being purchased for $13.4 billion.
April 21 -
Britain’s prior approach to regulating financial technology has been held up as the de facto bar, industry executives say — but on crypto, its more risk-averse outlook has stymied the sector’s growth.
April 20 -
One year after CEO Jane Fraser launched a business revamp, Citigroup reported lower revenue, higher expenses and a big reserve for loan losses in Russia. Yet the company’s long-term plan to streamline operations and invest in high-performing businesses — all with an aim to strengthen shareholder returns — still appears on track.
April 14
