Risk management

• Climate change

  U.S. banks' climate disclosures seen as too narrow to reflect risk

  U.S. banks are taking too narrow of an approach when disclosing their exposure to climate risk and are potentially underestimating possible losses, according to a report released Monday.

  October 19

  
• Penalties and fines

  USAA's OCC fine, Citi mum on risk rehab, no digital bank for PNC: Top stories of the week

  USAA's regulatory troubles now include OCC fine, CRA downgrade; Citi CEO Michael Corbat and CFO Mark Mason dodged questions on cost of risk overhaul; PNC unlikely to buy a digital bank, CEO Demchak says; and more from this week's most-read stories.

  October 16

  
• BankThink The high cost of giving banks too much slack

  Examiners are skilled at spotting trouble but often do too little to correct it, as the latest revelations about Citi once again show. Prompt supervisory intervention is essential to protecting the integrity of the financial system.

  October 14

  

  Karen Petrou

  Managing Partner

  Federal Financial Analytics
• Enforcement

  Citi execs silent on cost of risk overhaul

  CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.

  By Allissa Kline

  October 13

  
• Compliance

  Citi hit with pair of enforcement actions, fined $400M

  The company's mistaken payment to Revlon creditors and other lapses are said to have contributed to Citi's recent leadership shake-up. On Wednesday, the OCC and Fed ordered the company to fix its risk management problems.

  By Hannah Lang

  October 7

  
• Lawsuits

  Citi cleared to seek information in $900 million-error suit

  Citigroup can seek information on the relationship between investment managers and Revlon Inc. creditors who have refused to return millions of dollars the company says it mistakenly sent them, a judge ruled.

  September 30

  
• Web Seminar Lessons learned: Risk management in a post-COVID-19 world

  The current crisis has forced many credit risk managers to focus on putting out fires, leaving them vulnerable to other unforeseen events.

  Sponsor content from Moody's Analytics
• Succession planning

  Results-driven Fraser just the ticket for fixing Citi, associates say

  Jane Fraser, who is poised to become the first woman to lead a major U.S. bank, possesses turnaround experience and strong interpersonal skills that make her well suited for mending fences with regulators and investors, according to present and former colleagues.

  By Allissa Kline

  September 21

  
• Enforcement

  Citi using Revlon snafu to fix risk management

  Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.

  By Allissa Kline

  September 14

  
• Commercial banking

  Will Citi snafu bring fresh scrutiny to custodial banks?

  Citigroup’s $900 million payment blunder in a normally low-profile part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem.

  By Jon Prior

  August 25

  

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