Citigroup will close all its retail banking operations in the state of Massachusetts in January as it reallocates resources to digital channels. The move means 17 branches in and around Boston will be shut.
First suit by fired FX trader alleges sharing confidential client information was common at Citigroup
A former Citigroup foreign exchange trader, fired for allegedly sharing confidential client information in chat rooms, is defending himself in court with examples of how the practices he was fired for were commonplace. The suit is the first of several expected lawsuits filed by fired FX traders against their former employers, and it is shedding new light on firms' management and control of client information.
Citigroup plans to overhaul its trading technology as part of a plan to rebuild its equities trading unit. Other parts of the rebuilding strategy include expanding research, hiring key executives and increasing the unit's financing.
Citigroup is reportedly testing its own bitcoin-like cryptocurrency, as well as three separate systems that deploy blockchain distributed ledger technology, according to International Business Times....
U.S. Justice Department prosecutors investigating potential lapses in the anti-money laundering controls at Citigroup's Banamex USA have uncovered emailed warnings about AML problems that went...
Morgan Stanley sees digital tools as engines for growth for the firm and expects new cash management and payments tools to help the firm deepen relationships with wealth management customers, Morgan Stanley CFO Jonathan Pruzan said last week at the Morgan Stanley U.S. Financials Conference in New York City.
A history of poor anti-money laundering controls is reportedly causing Citigroup to close its Banamex USA subsidiary, the Wall Street Journal first reported on Sunday. Regulators aren't demanding...
Santander N.A. became the third bank to agree to loosen applicant screening for new account openings, and reports suggest more agreements will likely be forthcoming. The agreements forged with NY Attorney General Eric Schneiderman's office come as the attorney general has been investigating whether overly strict use of applicant screening technology unfairly denies low-income applicants banking services for relatively minor infractions.
A consortium of banks and asset managers are banding together to create a new electronic marketplace for equities trading in Europe. To be called Plato Partnership, the group is designing the platform with the goal of improving market fairness.
Citigroup is closing its LavaFlow alternative trading venue because the firm decided the venue hasn't achieved enough scale to merit continued investment. The move comes just months after LavaFlow was forced to pay $5 million in regulatory fines and as alternative trading systems and dark pools in general are coming under increased scrutiny.