Items Tagged with 'Citigroup'

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Walter Investment posts another big loss; names fourth CEO in last 10 months

Posts net loss of $232.4M in Q2; CitiMortgage COO Anthony Renzi to lead company
It’s probably safe to say that Walter Investment Management Group is in a state of upheaval right now. The company announced Tuesday that it posted its second massive quarterly loss of the year during the second quarter, and now the company is about to have its fourth different CEO since October 2015.
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Bank of America, Citigroup brace for annual stress tests

History of failure so far
Both of these banks failed the stress tests a combined total of five times. The annual tests could even be holding the banks back from giving more $$$ to their shareholders. While banks such as Wells Fargo seem to be going fine, others, such as Bank of America and Citigroup, just can’t seem to catch on.
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The Big Short's Michael Burry just bailed on big bank stocks

Burry's hedge fund, Scion Asset Management, exits several bank positions
Michael Burry, whose name still carries significant weight in the financial industry, is no stranger to having a strong opinion about the nation’s biggest banks. And Burry's hedge fund, Scion Asset Management, completely dumped its position on several of the big banks during the first quarter. Does he know something we don't?
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Five major banks fail bailout test, would need taxpayer money in crisis

Bank of America, JPMorgan Chase, Wells Fargo, others must improve 'living wills'
Five of the nation’s largest banks are not prepared for a financial crisis and would need taxpayer bailouts, the Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation announced Wednesday.
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Financial purge: Big bank stocks plunge

Dramatic crash in oil prices to blame
The DOW is not looking good as financial names took a big hit Thursday. Reeling off a 400-point loss, oil prices dropped below $27 a barrel for the second time in recent weeks. It settled at $26.21, the lowest point since 2003.
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