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Tag Archives: Citibank

Maryland to get $2M from Citibank settlement (access required)

Forty-five states have reached a $100 million settlement with Citibank for allegedly manipulating U.S. Dollar (USD) LIBOR, an interest rate benchmark which has widespread effect on financial markets and consumers, Maryland Attorney General Brian E. Frosh’s office announced Friday. Governmental ...

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Argentina, Citibank at odds over U.S. order (access required)

The Argentine government is warning Citibank that it could lose its license in the South American country if it follows the order of a U.S. judge. The Ministry of Economy said Friday that it has to process payments to bondholders ...

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U.S. oil production boom surprising experts

NEW YORK — U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world’s biggest producer. Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons ...

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$25B U.S. mortgage settlement goes to states

WASHINGTON — The nation’s five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday. A draft settlement between the banks and U.S. states has been sent ...

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Big banks must show break-up plans under new rule

WASHINGTON — The largest U.S. banks must show how they would break up their assets if they were in danger of failing, under a rule approved Tuesday. The Federal Deposit Insurance Corp. voted to require banks with $50 billion or ...

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Cease-and-desist orders issued against 8 mortgage bankers

The Office of the Comptroller of the Currency issued cease-and-desist orders Wednesday against eight national mortgage bankers, including Bank of America, PNC and Wells Fargo, for “unsafe and unsound” practices dealing with residential mortgage foreclosures. The banks agreed to the ...

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