Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

NEWS ABOUT: Citibank

Stories 1 - 20 |  Next >>

Switch to grid view »

Citi Cutting 4,500 Jobs

Bank faces 'extremely challenging' conditions, CEO says

(Newser) - Citigroup plans to cut some 4,500 jobs—2% of its global workforce—in the coming months as it "faces an extremely challenging operating environment," CEO Vikram Pandit warns. Pandit, who has cut more than 100,000 jobs at Citi since taking charge in 2007, says regulatory changes... More »

Massachusetts Sues Big Banks Over Mortgage Fraud

Says it will not sign onto any lenient robosigning settlement

(Newser) - Massachusetts Attorney General Martha Coakley—best remembered for her failed campaign against Scott Brown —has filed a lawsuit against Bank of America, Wells Fargo, JPMorgan Chase, Citigroup, and Ally Financial over alleged mortgage fraud offenses, including the “robo-signing” scandal. The suit also names MERSCORP which produces an electronic... More »

Geithner Blew Off Obama's Order to Dissolve Citigroup

New book says Obama's team routinely undermined him

(Newser) - In March 2009, in the throes of the financial crisis, Barack Obama told Tim Geithner to focus on a proposal to dissolve Citigroup—but the Treasury Secretary ignored him and never developed a plan, according to former Wall Street Journal reporter Ron Suskind’s new book Confidence Men. In the... More »

Ex-Citigroup VP Charged With Embezzling $19.2M

He allegedly stole more than $19M

(Newser) - Former Citigroup vice president Gary Foster has been charged with embezzling more than $19 million from the company. Foster, 35, was nabbed yesterday at JFK airport in New York, after arriving on a flight from Bangkok, Reuters reports. Prosecutors say that between May 2009 and December 2010, Foster funneled the... More »

Hackers Grabbed Data on 360K Citibank Customers

Citi originally said 1% of 21M customers were affected

(Newser) - Citibank has finally 'fessed up that hackers managed to grab account data on a whopping 360,083 US credit card customers. That's nearly double what the company initially revealed when it said 1% were affected, which equals about 210,000 customers based on its 2010 annual report, reports... More »

Hackers Had Little Trouble in Citigroup Breach

And things are probably only going to get worse

(Newser) - News that hackers busted through Citigroup's online defenses and stole information on 200,000 customers is bad enough. The New York Times makes it worse with two additional points: The hack itself was relatively easy, and we should expect a lot more similar attacks in the near future. “... More »

Big Citi Hack Reveals Ugly Truth About Banks

Firms not investing enough on protecting customers, analysts say

(Newser) - The massive data breach at Citigroup has alarmed customers, angered lawmakers, and sparked debate on whether big banks are spending enough money on protecting their customers' information, the New York Times finds. Credit card companies have devoted their resources to preventing fraud from occurring when data is stolen and not... More »

Citibank Reveals Massive Data Breach

Info on hundreds of thousands of customers breached

(Newser) - Hackers breached Citibank's systems early last month and may have made off with the personal data of hundreds of thousands of customers, the bank has revealed. The data breach—which Citi admitted after being questioned by the Financial Times —exposed customers' names, account numbers, and contact information. But... More »

Google, Citibank Throwing $110M Into Wind

Marks a major corporate investment into green energy

(AP) - Google and Citibank are each throwing $55 million to the wind in California. The Mountain-View-based search giant is partnering with Citibank to help finance the Alta Wind Energy Center wind farm in the Tehachapi Mountains. The Kern County wind farm will generate 1.5 gigawatts of electricity, enough to power... More »

Citi Boss Vikram Pandit Scores Huge Bonus

He'll make at least $23.2 million; had been earning $1

(Newser) - Vikram Pandit isn’t the lowest-paid guy on Wall Street anymore. Citigroup has rewarded its CEO, who has worked for a token $1 salary for the past two years, with a massive retention package. If the company hits its estimated performance, Pandit will make $23.2 million in stock and... More »

Too-Hot Banker Dumps Her S&M-Lovin' Lawyer

Lorenzana was freaked out by sex harassment case

(Newser) - Too-hot-for-Citi banker Debrahlee Lorenzana was apparently afraid she’s also too hot for her lawyer—so she ditched him. After learning of a 2008 sexual harassment suit against attorney Jack Tuckner, “she was horrified,” a source tells the New York Post . And with good reason: Court papers filed... More »

Too-Hot Banker Wasn't Always So Stacked

Debrahlee Lorenzana got two boob jobs, bragged about 'em

(Newser) - Debrahlee Lorenzana may be too hot for Citibank , but it turns out her, er, assets weren’t always quite so big. The bombshell banker was featured in a 2003 Discovery Health Channel series called Plastic Surgery New York Style, during which she talks quite gleefully about her two boob jobs.... More »

Another Bank Has Problem With Too-Hot Banker

Debrahlee Lorenzana in hot water with JPMorgan Chase, too

(Newser) - Too-sexy-for-Citibank Debrahlee Lorenzana is now in hot water with a second bank…but not for looking too hot at work. Lorenzana claims current employer JPMorgan Chase isn’t happy she spoke out against her last employer—who she says fired her for being too attractive . “They're circling the wagons... More »

Dow Rises 45 on Citigroup Optimism

CEO Vikram Pandit confident government will sell Citi stake

(Newser) - A possible move by China to tighten monetary policy sapped stocks today, but optimistic comments from Citigroup's CEO led the indexes higher in the final hour, the Wall Street Journal reports.
  • The Dow added 45 points to close at 10,612.
  • The Nasdaq gained 10 points, closing at 2,368.
... More »

FBI Probes Massive Hacker Theft at Citi

Bank denies being victim of Russian cyberattack

(Newser) - The FBI is investigating a cyberattack on Citigroup that cost the bank tens of millions of dollars, according to government officials. The theft—which Citi denies ever happened—was aimed at Citigroup's Citibank subsidiary and was carried out by hackers linked to a Russian gang, officials tell the Wall Street ... More »

Citi, Wells Fargo Clash With Feds Over Repaying TARP

Fed, Treasury want banks to raise more capital first

(Newser) - Citigroup and Wells Fargo are at odds with the government over how much they need to raise to repay their TARP bailouts, with Uncle Sam wanting them to raise more capital first. Both are looking to follow Bank of America’s lead and get out from under the TARP, allowing... More »

Fed Prods Banks for TARP Repayment Plans

BofA, Citi, 7 others asked to submit outlines

(Newser) - The government is stepping up plans to wind down the TARP program. The Fed has asked nine banks stress-tested earlier this year, including Bank of America and Citigroup, to come up with plans to repay a total of $142 billion in TARP funds. The move represents an evolution in the... More »

50% Pay Cuts for Bailout Execs Due Today

Warren confirms cuts to 25 top earners at 7 companies

(AP) - The Treasury Department today is expected to order seven companies that have not paid back last year's US government bailouts to halve their top executives' average compensation. The cuts apply to the 25 highest-paid executives at banks and other companies that received the most assistance, with salaries being slashed by... More »

In Switch, 'Real Economy' Hits Big Banks

Slumping profits are 'payback' from Main Street whipped by bad practices

(Newser) - Those concerned about the nation’s banks should forget about the “softly, softly policy” of the Obama administration that has allowed Goldman Sachs to go back to business as usual in spectacular fashion. The real problem, Paul Krugman writes, is banks like Citi and Bank of America that are... More »

Top Wall Street Execs Have Direct Line to Geithner

Treasury chief's calendars show frequent contact with big players

(AP) - A look at Timothy Geithner's phone calendars show the Treasury secretary has maintained close ties with Wall Street executives he has known for years. Executives at Goldman Sachs, JPMorgan, and Citigroup can reach the nation's most powerful economic official at will. While there's nothing inherently wrong with keeping tabs on... More »

Stories 1 - 20 |  Next >>
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne