Search Results for: Citibank
Citibank to refund $700 million to credit card customers for unfair and deceptive practices
July 22nd, 2015
Citibank, N.A. and some of its subsidiaries is ordered to refund approximately $700 million to customers for unfair and deceptive credit card practices. This includes unfairly billing consumers for credit card add-on products, deceptively marketing those products, and deceptive collection ...
FCA imposed £1.47bn in fines in 2014 with UBS and Citibank among worst offenders
June 17th, 2015
The Financial Conduct Authority (FCA) imposed £1.47bn (€2.04bn, $2.3bn) in fines on companies in 2014, a rise of 68% from the year before, according to a study by Kinetic Partners. The study showed the average fine imposed on businesses ...
Citibank Seen as Target for Plea in U.S. Currency Case
April 3rd, 2015
The U.S. Department of Justice is pressing for Citigroup Inc.’s main banking subsidiary to plead guilty to a felony tied to the rigging of foreign-exchange markets, according to two people briefed on the matter. Citigroup has countered with an ...
Grupo Ficohsa acquires Banco Citibank de Nicaragua and Cititarjetas de Nicaragua
March 26th, 2015
The acquisition encompasses all of Citi’s business in Nicaragua: commercial loans, personal loans, deposits and credit cards. The transaction is pending authorization from regulatory bodies. During the process, Citi will continue its operations as it has to date. This acquisition ...
Citibank Sues Two Former Goldman Sachs Partners Over $29 Million Swiss Franc Margin Call
March 19th, 2015
The sharp and unexpected rise of the Swiss franc in January resulted in big losses for hedge funds, investment banks and other currency speculators, even causing some hedge funds to shut down. Now, there is a lawsuit over a ...
Citibank Plans to Exit Custody Business in Argentina
March 18th, 2015
Citibank said Tuesday it will exit the custody business in Argentina, following a ruling by a U.S. court preventing it from passing on interest payments from the South American country to local bondholders. In a letter to U.S. District ...
Citibank offers five times leverage in FX for bank depositors
August 5th, 2014
Citigroup Hong Kong offers five times leverage to bank depositors to trade in FX. Citibank Foreign Currency Leveraged Investment can help investors increase their investment power by up to 5 times, enabling them to capture any upside potential on foreign ...
Banking faces seismic changes
July 13th, 2021
The role of commercial banks in the global economy is changing, with lending to governments and their agencies now more important than lending to goods and services industries. It is a trend which is due to continue. The ...
iSignthis: ASIC’s win today is a win for the sector and ISX
February 5th, 2020
iSignthis has issued an announcement and informs that: ISX has made it clear multiple times that we do not offer services to unlicensed binary operators who target Australians. ASIC’s win today is a win for the sector and ISX, ...
OTC Clear Welcomes BNP as its First Clearing Member from France
September 19th, 2017
OTC Clearing Hong Kong Limited (OTC Clear), a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX) that was set up in 2013 to provide clearing services for over-the-counter, or OTC, derivatives, welcomes BNP Paribas (BNP) as 17th clearing ...
