Citigroup

Citi Fined $400M Over Faulty Risk Management Systems

Citi Fined $400M Over Faulty Risk Management Systems
Citi Fined $400M Over Faulty Risk Management Systems
October 07, 2020  |  Regulation

Federal banking regulators have fined Citigroup $400 million, ordering the third-largest U.S. bank to fix the “significant ongoing deficiencies” in its risk management systems, The...

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Revlon Creditors Ask Judge To Allow Expert On Citi’s $900M Error
Revlon Creditors Ask Judge To Allow Expert On Citi’s $900M Error
September 16, 2020  |  Legal

Several Revlon creditors want to enlist an expert to share his opinion on whether they should have known that a $900 million payout from Citigroup...

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Citi To Face Regulators’ Rebuke Over Faulty Risk Management
Citi To Face Regulators’ Rebuke Over Faulty Risk Management
September 14, 2020  |  Bank Regulation

Regulators are expected to reprimand Citigroup for its faulty risk management system, which works to detect problematic transactions, risky trades and other such issues, and...

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Jane Fraser To Break ‘Glass Ceiling’ As Citigroup CEO
Jane Fraser To Break ‘Glass Ceiling’ As Citigroup CEO
September 10, 2020  |  Personnel

Citigroup Consumer Banking Chief Jane Fraser will take the top spot early next year when current CEO Michael Corbat retires, CNBC reported. Fraser would be...

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Citigroup Still At Odds With Hedge Fund Over Bank Payment Mistake
Citigroup Still At Odds With Hedge Fund Over Bank Payment Mistake
September 07, 2020  |  Legal

In an unusually public feud, Citigroup is engaged in a squabble with a creditor over the mistaken $900 million Revlon payments from earlier this year...

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Boxed Looks For Buyers
Boxed Looks For Buyers
September 01, 2020  |  Retail

Boxed, the U.S. online wholesale retailer sometimes called “Costco for millennials,” is seeking a buyer, Reuters reported. Get the Full Story Complete the form to...

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Today In Payments: Citigroup’s $900M Error Caused By Software Update; Facebook Rolls Out In-App Marketplace
Today In Payments: Citigroup’s $900M Error Caused By Software Update; Facebook Rolls Out In-App Marketplace
August 26, 2020  |  News

In today’s top news, Citigroup’s $900 million “clerical error” occurred during a software update, and Facebook introduced a new marketplace in its Facebook shop app....

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Report: Citigroup’s $900M Error Was Caused By Software Installation
Report: Citigroup’s $900M Error Was Caused By Software Installation
August 26, 2020  |  Banking

Citigroup Inc. has discovered obsolete software caused a nearly $1 billion problem earlier this month. Get the Full Story Complete the form to unlock this...

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Citigroup Back To Federal Court Over $900M Error
Citigroup Back To Federal Court Over $900M Error
August 21, 2020  |  Legal

Citigroup Inc. returned to court Friday (Aug. 21). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...

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