Retail & Commercial

Analysts peppered CEO Jane Fraser with questions about whether Citigroup, already hit hard by its regulators, could face asset growth restrictions. She said there is "absolutely nothing" in the works that could impact the megabank's businesses.

Regulatory justice prevailed with a federal district court injunction staying the politically motivated CRA final rule, the most complicated and convoluted regulation ever. Depending on election results, it may end up in the Supreme Court.

Citadel Federal Credit Union's $6.5 million deal with the Justice Department settles allegations of discriminatory lending around Philadelphia. It was the DOJ's first-ever redlining order against a credit union.

The megabank's scale hasn't made it immune from the deposit wars that have crimped bank profits. But the "stabilization" that Wells Fargo flagged is a positive sign as other banks start reporting earnings.

The megabank reported a big increase in credit costs for the third quarter, which included a reserve build of $1 billion.

Canaccord Genuity Group hires Nadine Ahn, who was fired from Royal Bank of Canada in April; Citigroup establishes a new banking executive team to oversee its commercial and investment banking work under Vis Raghavan; and more in this week's banking news roundup.

The Canadian bank's stateside retail operations will be hamstrung by a massive anti-money-laundering settlement. But executives said the company can lean on both its Wall Street business and lines of revenue north of the border.

President Joe Biden called on Congress to return to Washington to make sure Small Business Administration loans don't run out after Hurricanes Milton and Helene devastated large swaths of the Southeast.

Los Angeles dispute resolution platform Ejudicate was banned by the Consumer Financial Protection Bureau for forcing borrowers into arbitration with an affiliated creditor.

Now that earnings season has kicked off, investors will be paying close attention for signs of loan growth and deposit pricing relief, though analysts don't expect improvements to materialize right away.