September 12, 2022
Citigroup Inc. is entitled to recoup about $500 million of its own money that it accidentally wired Revlon Inc. lenders three years early, a U.S. appeals court said on Thursday. Reversing a lower court ruling, the 2nd U.S. Circuit Court …
August 16, 2022
Citigroup Inc. has sued Revlon Inc. in a bid to resolve a nagging legal question that emerged after the bank mistakenly wired $900 million to the cosmetics giant’s lenders and intensified after Revlon filed for bankruptcy. When Citi accidentally sent …
September 30, 2021
Citigroup Inc. on Wednesday pressed a federal appeals court to let it recoup about $504 million of its own money that it accidentally wired Revlon Inc. lenders, saying its mistake did not entitle them to a huge windfall. The bank’s …
August 31, 2021
A U.S. appeals court said the trustee liquidating Bernard Madoff’s firm can pursue a $343.1 million clawback lawsuit against Citigroup Inc., a decision that could help the late swindler’s customers recover close to the estimated $17.5 billion they lost in …
March 3, 2021
Wall Street banks are seeking new legal protections to help avoid a repeat of Citigroup Inc.’s accidental $900 million payment to Revlon Inc. lenders. After last month’s surprise court ruling that let certain Revlon creditors keep $500 million of the …
February 17, 2021
A federal judge on Tuesday said Citigroup Inc. is not entitled to recoup half a billion dollars of its own money that it mistakenly wired lenders of Revlon Inc., in what he called “a banking error of perhaps unprecedented nature …
January 21, 2020
As the financial industry comes under pressure to avoid funding dirty energy, the heads of Citigroup Inc. and Zurich Insurance Group AG said they need their clients to do more work too. “I say to our clients, ‘I don’t want …
June 29, 2018
Citibanamex, a subsidiary of Citigroup Inc., and Chubb Seguros MΓ©xico, an affiliate of Chubb Ltd., announced a definitive long-term agreement where Chubb will provide a range of non-life insurance products to Citibanamex’s consumer bank clients in Mexico, subject to regulatory …
March 7, 2018
The World Economic Forum has led the creation of an industry consortium focused on improving the cyber security of financial technology companies, as collaboration between fintechs and financial institutions grows. The consortium’s founding members include Citigroup Inc, online lender Kabbage, …
March 28, 2017
Citigroup Inc. will seek bids from global insurers keen to sell general insurance products across the U.S. bank’s Asia-Pacific markets, in a deal that could be worth at least $500 million, a source with knowledge of the matter told Reuters. …