All Posts Tagged With: "Citigroup"
Citigroup (NYSE: C) Ready to Lend To Small Biz
Citigroup (NYSE: C) has announced they are holding a $200 million dollar fund to help small businesses stay afloat in low income areas of the United States. With the state of the economy, many small business owners are going under without access to proper financing avenues. Citigroup is working in association with the Calvert Foundation and [...]
Citigroup (NYSE: C) Exes Not Sorry Enough Says Panel
Today, two former executives from Citigroup (NYSE: C) tried their hand at publicly apologizing for the financial disaster of the company that nearly ended in collapse, until the government stepped in with a taxpayer bailout of $45 billion. Former chief executive Chuck Prince told the federal commission “Let me start by saying I’m sorry. I’m [...]
Citigroup (NYSE: C) Vice Chair To Step Down
After 53 years of service with the company, Citigroup’s (NYSE: C) William Rhodes is leaving is his position as Senior Vice Chairman at the end of April. Rhodes will also leave behind his role as a senior vice chairman of Citibank. He will continue to be a senior advisor reporting to Vikram Pandit, Chief Executive [...]
Citigroup (NYSE: C) Bailout Shares to Be Sold
The US government is planning to sell its 27% stake in Citigroup (NYSE: C), a bank they bailed out not that long ago. It will be one of the largest share sales in history with more than 7 billion shares sold throughout 2010, according to the US Treasury. The sale is also another show of [...]
Citigroup (NYSE: C), Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM) Join the Obama Administration to Reduce Second Mortgage Balances
The Obama Administration has announced a plan last Friday that will finally begin reducing the amount troubled borrowers owe on their home mortgage loans. This plan will allow people who are underwater on their mortgages to get a new mortgage backed by the Federal Housing Administration. Loans backed by the government agency insure the loans [...]
Citigroup’s (NYSE: C) CitiFinancial Pays $1.25 Million in Penalties for Failing to Report Mortgage Loans
After an examination by the Massachusetts Division of Banks to ensure CitiFinancial’s compliance with state and federal consumer protection laws, it was discovered that 91,127 residential mortgage loans were not reported to the federal government. CitiGroup (NYSE: C) agreed to pay $1.25 million in penalties to the 35 states that are party to the agreement [...]
Citigroup (NYSE: C) Ready to Grow Hedge Fund Group
Citigroup, Inc. (NYSE: C) is preparing to double up on the members of their consulting team that help consumers manage direct hedge fund investments from pension and government-backed funds. The plan is to have the team developed within the next 2 years in order to accommodate the change of direction the hedge fund industry has [...]
Citi To Help Rebuild New York City Public Housing (NYSE: C)
There are 21 public housing projects that have been on hold in New York City due to lack of funding through the New York City Housing Authority. City officials claim that the housing authority “has been ‘hemorrhaging’ about $1 billion over ten years” making it difficult to keep up with much needed renovations. To get [...]
Forget Citigroup – Wachovia Acquired by Wells Fargo
Wachovia Bank customers may not know how close they came to not having a banking institution. Last week, Wachovia Bank was running but with strong concerns that the bank would not be open for this week. Before any deals were being worked out, Wachovia did not have a source of liquidity and under those circumstances, [...]
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