The bank plans to have one day each week when workers can avoid being on-camera for internal calls. “We are all feeling the weariness,” Citi’s chief executive said.
Citi committed “one of the biggest blunders in banking history,” a federal judge says.
The incoming C.E.O. of Citi wants to take a more global approach to issues and expand banking services for poor Americans even as the bank faces pressure to get itself in shape.
Raymond McGuire has lived a grand New York life, conquering Wall Street and kibitzing with Steve Martin. But in his campaign for mayor, he is eager to reach beyond his wealthy supporters.
Big banks are sending mixed signals.
The biggest banks in the United States have begun to pare back the enormous reserves they had socked away in case of an economic disaster.
AT&T and Marriott were among companies that will stop campaign contributions to lawmakers who objected to certifying the election. Other companies, such as JPMorgan, paused all political donations.
Spurred by recent social unrest, many U.S. companies are trying to make it easier for workers, and urging their customers, to cast their ballots.
One of the highest-ranking and longest-serving Black executives on Wall Street is entering the Democratic race eight months before the primary.
Business leaders encouraged Mr. McGuire to seek the Democratic nomination, saying his background would help the city and its economy recover from the pandemic.
Banks collected at least $13 billion in fees on Paycheck Protection Program loans, according to a New York Times analysis. But the largest lenders say costs wiped out most of what they took in.
Jane Fraser, Citigroup’s president, will replace Chief Executive Michael Corbat in February as he retires.
The Federal Reserve’s efforts to stabilize markets have touched off an even bigger borrowing binge than corporate America was already on.
JPMorgan Chase, Citigroup and Wells Fargo said that as long as the economy behaved according to their forecasts, they were braced for more pandemic-induced pain.
A powerful rally during drastically deteriorating economic conditions has left the market richly valued and facing great uncertainty.
Black customers risk being racially profiled on everyday visits to bank branches. Under federal laws, there is little recourse as long as the banks ultimately complete their transactions.
The finance industry will return to its offices this month, but the landscape is likely to be altered for many months to come.
Major companies are often wary of conflict, especially in a polarized time. But some are now taking a stand on racial injustice and police violence.
The government started taking applications Monday for a further $310 billion in emergency funds, and quickly ran into technical problems.
Some businesses seeking coronavirus loans got to avoid flaky online portals or backed-up queues. Many other small businesses couldn’t get their loan requests submitted before the money dried up.
The epitome of the ‘Mad Men’ era, the sleek midcentury buildings of Park Avenue glimmer. Our critic strolls with the architect Annabelle Selldorf.
Frustrated with the process and banks, they have to figure out how to stay afloat while Congress tries to come up with more funding.
A $349 billion program to throw them a financial lifeline got off to a rocky start on Friday as the U.S. economy continued to seize up.