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Citi
Latest Headlines
Latest Headlines
Institutions, brokerages warm to Citigroup
One of Citigroup's goals when it reverse split its stock last year was to try and build institutional ownership, especially since some argued that big funds did not want to own a sub-$5 stock and mainstream brokerages were wary of pitching such stocks.
The reverse split may now be paying off.
Citigroup may pay more to settle charges
In 2009 judge Jed Rakoff rejected a $33 million settlement between the SEC and Bank of America, essentially arguing that deal let the bank off with too light a penalty for its crimes, to which it did not admit or deny. After a contentious hearing, the judge ultimately approved--with reservations--
Judge already skeptical of SEC-Citi settlement
One of the big questions in the wake of the SEC's announcement that it has settled CDO-related fraud charges with Citi recently was whether the $285 million settlement would be approved by a federal judge.
Brows arched when word came down that the case had been assigned to Judge Jed Rakoff. Re
More criticism of Citigroup CDO settlement
Since the SEC and Citigroup announced a $285 million deal to settle marketing fraud charges related to single CDO deal, the criticism has steadily mounted.
Some have suggested that the settlement isn't nearly onerous enough, especially if you compare the alleged crimes committed in the Citigro
Will the SEC's deal with Citi be approved?
Recall that when the SEC inked its much-discussed settlement with Bank of America over a raft of Merrill Lynch-related issues, the moment was noteworthy because it seemed like a victory for regulators. But then Judge Jed Rakoff took a look at it in detail, he pointedly rejected it, suggesting that
Citi calls new website "industry breakthrough"
Retail banking web sites have never been at the vanguard of usability. But online banking has become integral to their retail operations, and all banks are considering how they can optimize their web
A possible hole in phone-based authentication
Bank of America and JP Morgan Chase are being blasted by consumer watchdogs over some of their phone-based authentication policies. The controversy broke out when a Boston-based consumer advocate
Gary Foster, the man behind the $19.5 million Citi fraud
Who is Gary Foster? Until a few days ago, he was a completely unknown in the financial services industry.
Foster, 35, toiled as a mid-level accountant Citi's office in Queens, New York (hardly a glamorous locale) in the treasury finance department, (not really a glamorous financial job). He wa
Citi's reverse stock split signals end of a high-frequency trading era
It's no secret that the savage decline of Citi's stock into the penny stock zone was a huge boon to high-frequency traders. Many of the firms made the stock--along with some other low-priced bank stocks--the centerpiece of their strategies, trading massive amounts to reap rebates from maker-taker
Analyst Mayo vs. Citigroup chairman Parsons
Mike Mayo, an esteemed bank analyst with a long history, has not been shy about taking on Citigroup ( NYSE: C ) management. Recall his earlier dispute with CEO Vikram Pandit and CFO John Gerspach over his alleged blackballing. He has also accused them of Sarbanes-Oxley attestation violations amo
