Risk

David Reilly oversaw cybersecurity efforts at the bank for years and has learned how employees with access to sensitive information can be flipped, conned or extorted into cooperating with hackers.

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.

In its semiannual supervision and regulation report, the central bank cited strong balance sheets and liquidity but found risks for smaller banks.

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.

First Horizon Advisors resolved a supervisory investigation involving a former rep after its parent firm announced it’s being purchased for $13.4 billion.

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.

Financial institutions are confronting major compliance challenges given the demands of Russian sanctions as well as the explosion of online gaming transactions and marijuana sales.

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.

As risk management becomes a major driver for banks, we discuss how to approach these questions in a different way

Citigroup and Bank of America are partnering with four large European banks to create a methodology for assessing how well companies in the air-travel sector are doing in meeting climate-related targets.

New York Fed researchers found that banks operating in areas hit by tornadoes, floods and other calamities weren’t financially hurt by those disasters. That surprising result comes with significant caveats, however.

Climate activists have forced votes this spring on whether big banks should move more aggressively to cut off their financing of fossil-fuel companies.

Home prices have increased at their fastest rate since the mid-2000s housing boom and driven skyrocketing inflation. Fed Gov. Christopher Waller says lenders are better prepared for a shock than in 2007 but still need to be monitored — especially nonbank lenders.

House Financial Services Committee Chair Maxine Waters has asked more than 30 trade associations, including banking groups, to describe how their members — company by company — have limited or ended their dealings in Russia since its invasion of Ukraine.