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SEC appeals Citigroup settlement

NEW YORK — The US Securities and Exchange Commission on Thursday appealed a court ruling which had blocked a deal to fine Citigroup $285 million on the grounds the regulator had let the bank off too lightly. The SEC said the judge’s call for Citigroup to be forced to admit…

Matt Taibbi explains ‘judicial butt-kicking’ of Citigroup deal with SEC

Matt Taibbi of Rolling Stone discussed Monday on Countdown with Keith Olbermann the “unusual” decision of a judge to reject settlement Citigroup made with U.S. regulators over its marketing of mortgage securities. “He came out basically and said that the SEC and Wall Street have been in a wink-wink, nudge-nudge…

Judge rejects Citigroup deal with SEC

NEW YORK — A US judge Monday rejected a $285 million settlement Citigroup made with US regulators over its marketing of mortgage securities that quickly went sour, saying the bank was getting off lightly. New York federal court judge Jed Rakoff scolded the Securities and Exchange Commission for agreeing to…

Former vice president of Citigroup arrested for stealing $19 million

NEW YORK — A former vice president of Citigroup has been arrested on bank fraud charges after he allegedly embezzled more than $19 million from the bank, US prosecutors said on Monday. Gary Foster, 35, was detained at New York’s John F. Kennedy International Airport on Sunday after he arrived…

Citigroup doubles number of accounts it said were hacked

NEW YORK (AFP) – US banking giant Citigroup had told its clients that about 360,000 credit cards were affected by a computer hacking attack last month — nearly twice the number previously acknowledged. Citigroup said late Wednesday that the security breach had compromised a total of 360,083 North America Citi-branded…

Citigroup says hackers viewed client accounts

HONG KONG (AFP) – US banking giant Citigroup said Thursday that computer hackers have accessed information in about one percent of accounts held by its US credit card card customers. “During routine monitoring, we recently discovered unauthorized access to Citi’s Account Online. A limited number — roughly one percent —…

US to sell final Citigroup holding Tuesday

The US government plans to sell its last holding in rescued banking giant Citigroup, the Treasury Department said Monday. The Treasury said it would hold a one-day public auction Tuesday of its remaining 465 million warrants in the bank. “The proceeds of this sale will provide an additional return to…

$2 trillion municipal bond debt crisis could bring down 100 US cities, analyst warns

A new disaster is looming, according to a prominent market research analyst. Meredith Whitney, a financial analyst who runs her own consulting firm and correctly predicted the major debt fallout of Citigroup, warned in a little-reported on interview Sunday that as many as 100 US cities face default on their…

Citigroup VP’s popular homophobic, misogynistic blog earns him speaking gig — and pink slip

It’s not surprising to hear that Wall Street is still rife with type A, arrogant, sexist pricks who engage in frat boy behavior. Michael J. McCarthy made a name for himself — as “Large,” the proprietor of an execreble blog called Take A Report. His cover was blown and when…

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