Citigroup

Economy

Cost Of Racism: U.S. Economy Lost $16 Trillion Because Of Discrimination, Bank Says

6:45pm September 23, 2020

by Adedayo Akala

Citigroup estimates the economy would see a $5 trillion boost over the next five years if the U.S. were to tackle key areas of discrimination against African Americans.

"We still face much uncertainty regarding the future path of the economy," JPMorgan Chase CEO Jamie Dimon said Tuesday in a statement accompanying the giant bank's financial results.

Economy

'We Still Face Much Uncertainty': Pandemic Hammers Big Banks

12:56pm July 14, 2020

The dramatic collapse of the U.S. economy is pummeling America's largest banks. Wells Fargo has posted its first quarterly loss since 2008 and JPMorgan Chase has set aside billions to cover bad loans.

Queue Listen Now

The Fed wants to make banks "pre-fund" their own bailout should another financial conflagration break out.

In A Financial Fire, Big Banks Will Have An Extra Extinguisher

4:53pm October 30, 2015

by Marilyn Geewax

The Federal Reserve is proposing rules that would force banks to add another layer of protection in case of a financial crisis. It wants to be sure taxpayers don't get stuck bailing out banks again.

World News

Citigroup's Mexican Unit Fined $2.2 Million For Shoddy Oversight

2:54pm October 16, 2014

by Carrie Kahn

Regulators in Mexico said Banamex should have spotted red flags that resulted in a $400 million fraud. Earlier this week, Citigroup announced it had discovered a $15 million fraud.