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Wall Street Journal: Citigroup cuts 200-300 jobs

US bank Citigroup (NYSE: C – news) has cut between 200 and 300 additional jobs, most in the global markets business, The Wall Street Journal reports. Some of the employees were fired, while others left voluntarily. Among them was Steve Prince, the younger brother of former chief executive Charles Prince,…

Switzerland investigates top banks JPMorgan Chase, Citigroup, Barclays, others for currency manipulation

Switzerland said on Monday it was investigating a range of banks, including domestic leaders UBS and Credit Suisse along with top global houses, over suspicions they manipulated currency markets. The probe covers JPMorgan Chase, Citigroup, Barclays……

Bipartisan House gives in to Wall Street and passes Dodd-Frank rollback drafted by Citigroup lobbyists

A bipartisan majority in the House of Representatives rolled back one of the key elements of the Dodd-Frank financial reform law passed in the wake of the 2008 economic meltdown. The House voted 292-122 to pass Swaps Regulatory Improvement Act, which repeals a provision in the law that required big…

Citigroup fined $30 million for tip-off to big clients

Massachusetts on Thursday fined Citigroup $30 million for improperly releasing market-sensitive information on an Apple supplier to large clients including hedge fund SAC Capital Advisors. In December 2012 Taiwan-based Citigroup Global Markets analyst Kevin Chang divulged to a handful of clients a lowered production forecast for Apple iPhones and iPads…

Citigroup settles lawsuit over federal securities law violations

Citigroup has settled a lawsuit by the US Federal Housing Finance Agency over the sale of home mortgage-backed securities to government-backed lenders, a court document showed Wednesday. According to the New York court filing, Judge Denise Cote said that both sides had reached an agreement that ends the lawsuit. The…

Citigroup to pay $700 million to settle subprime mortgage lawsuit

US banking giant Citigroup said Monday it will pay $730 million to settle a class-action suit by bondholders related to the 2008 financial crisis. The suit alleged Citigroup misled buyers of its bonds over its exposure to subprime mortgages and other high-risk securities ahead of and during the crisis, from…

Treasury sells last Citigroup holding

The US Treasury Department said Tuesday it was selling its last holding in Citigroup, one of the banks rescued by the government amid the 2008 financial crisis. The sale of Citigroup subordinated notes is expected to add $894 million to the Treasury’s coffers, bringing the overall positive return to US…

Citigroup whistleblower: I have no regrets

(Reuters) – It wasn’t Sherry Hunt’s original intent to go public on the shoddy quality control at a mortgage unit at Citigroup Inc , her employer since 2004. But by March 2011, as it became apparent to her that the problems were getting worse and not being addressed, the Missouri…

New ‘foreclosure abuse’ agreement includes fines penalizing banks

(Reuters) – U.S. banking regulators are using the agreement announced on Thursday between large U.S. banks and state and federal agencies over foreclosure abuses as a vehicle for levying their own fines on banks for problems in their mortgage servicing businesses. In April 2011 banking regulators reached a deal with…

SEC chided again by judge in Citigroup fraud case

In his latest sharply-worded order, U.S. District Judge Jed Rakoff chastised the SEC for not telling him it had filed an emergency request with an appeals court to put the case on hold, after making the same request to him. So when Rakoff on Tuesday issued a ruling opposing any…

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