Risk management

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.

Citigroup warned that more regulators are investigating the company over employee use of “unapproved messaging channels."

Nearly three in four banks said in a recent survey that finding people with the right skills is a hurdle as they try to comply with decade-old rules regarding their financial models.

A cannabis-related company said it has secured a $60 million credit facility backed partly by East West Bank. The California-based regional bank is moving into a realm once dominated by small banks, credit unions and more expensive nonbank lenders.

The San Francisco bank is following the lead of other U.S. megabanks by providing shorter-term targets ahead of 2050 climate pledges.

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.

The Office of the Comptroller of the Currency's decision to lift the order is a win for Citi, which has been working to address two other, more recent consent orders with the OCC and the Federal Reserve.

Goldman Sachs Group offered its first ever lending facility backed by bitcoin, in a significant step for a major U.S. bank that accelerates Wall Street's embrace of cryptocurrencies.

U.K. regulators have told JPMorgan Chase to review how the firm manages its operational risk as the Prudential Regulation Authority intensifies its scrutiny of the reporting processes of banks it regulates.

CEO Jamie Dimon cited elevated risks related to inflation and the war in Ukraine as the nation’s largest bank added $902 million in loan-loss reserves. “Does this represent conservatism in an uncertain macro environment or something more onerous?” one analyst asked.