Citigroup has struggled more than most banks since it was bailed out by Uncle Sam during the depths of the 2008 finanical crisis. Since then, it has undergone a handful of management shake-ups, battled questions about duvious foreclosure practices, fended off allegations of lax money-laundering protections and faced a number of probes into its banking practices. Just last week, the Federal Reserve rejected Citi’s plan to raise its shareholder dividend and jack up its stock buyback plan, on concerns about how much capital the bank has on hand. Now, the bank’s troubles just got worse. The FBI has reportedly launched a criminal investigation into the banks role in a $400 million fraud involving its Mexican banking unit.
Hot Topics
-
Hosts
About NBR
“Nightly Business Report produced by CNBC” (NBR) is an award-winning and highly-respected nightly business news program that airs on public television. Television’s longest-running evening business news broadcast, “NBR” features in-depth coverage and analysis of the biggest financial news stories of the day and access to some of the world’s top business leaders and policy makers.Top Stories from CNBC
- Capitol Police probing claims GOP lawmakers gave tours to Trump supporters before riot
- Health Secretary Azar tells Trump U.S. Capitol attack was assault on democracy that tarnishes legacy
- These entrepreneurs want a second PPP loan. What you should know if you're applying for more money
- 'I don’t see anything on the horizon that can stop the growth of the ETF market,' Invesco official says. Here are her 2021 predictions
- Apple CEO Tim Cook's new cash bonus sweetener not tied to bigger sales or profits
NBR on Twitter
My TweetsNBR on Facebook
Subscribe to RSS