Days after being rebuked by shareholders, Citigroup Inc (C.N) Chief Executive Vikram Pandit and the bank's directors have been sued by a shareholder accusing them of awarding outsized pay to top executives.
Richard Parsons, speaking two days after ending his 16-year tenure on the board of Citigroup Inc. and a predecessor, said the financial crisis was partly caused by a regulatory change that permitted the company's creation.
Among the Citigroup Inc. bankers gathered in Hong Kong on Aug. 11, 2006, with the mayor of the northeastern Chinese city of Tieling to discuss investments in an industrial park was the son of a powerful China princeling.
Large institutions including JPMorgan Chase & Co., Citigroup Inc., Sun Trust and Bank of America have introduced the technology to reduce the cost of handling paper cheques, which can include storage, labour and transportation costs, to name a few.
The Comptroller of the Currency, which regulates national banks, said on Thursday that Citigroup Inc's Citibank had fallen short in establishing and maintaining programs meant to identify money laundering and other improper flows of money.