Items Tagged with 'Citigroup'

ARTICLES

  • SoFi appoints Aaron Webster as chief risk officer

    Webster comes from a long background in risk management
    Almost immediately following the departure of former chief risk officer Kevin Moss in June, Aaron Webster has been named the chief risk officer at online lender SoFi. Webster will be responsible for risk, fraud, and credit management frameworks, as well as leading its credit risk and underwriting activities.
    Read More
  • Citibank to pay $25 million for violating the Fair Housing Act

    OCC fines bank $25 million as Citi shells out $24 million in reparation to customers
    Citibank will pay a fine of $25 million for violating the Fair Housing Act, the Office of the Comptroller of the Currency announced Tuesday. According to the OCC, an investigation showed that Citibank did not equally offer certain mortgage discounts to all Citi customers, thereby "adversely" affecting some customers based on their "race, color, national origin, or sex."
    Read More
  • Citigroup invests in digital mortgage company Better Mortgage

    Citi becomes latest big name to fund mortgage tech startup
    The investors in digital mortgage company and 2018 HW Tech100 winner Better Mortgage are a veritable who’s who of the finance space. And there's a new big name joining that list. Better announced Thursday that Citigroup is investing in the company, joining Goldman Sachs and American Express among Better's backers.
    Read More
  • CitiMortgage takes a beating in Q3

    Mortgage originations fall 29% and its mortgage division succumbs to scandal
    Citigroup released its earnings report this morning, and mortgage originations are down. Way down. The bank reported a 29% decrease in originations year over year and an 8% decrease in originations from the second quarter.
    Read More
  • Bernie Sanders wants to break up the nation’s biggest banks (again)

    Sanders repeats campaign call to break up big banks
    Back when he was a presidential candidate, Sen. Bernie Sanders, I-VT, called for sweeping reforms to the nation’s financial system, including breaking up the big banks. And now, he's at it again. On Wednesday, Sanders announced that he is introducing the “Too Big to Fail, Too Big to Exist Act,” which would break up JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley.
    Read More
  • The National Mortgage Settlement is officially over

    Monitor’s office to shut down by end of 2018
    One of the vestiges of the financial crisis is now officially in the past. The National Mortgage Settlement, the epic, massive mortgage servicing settlement between the federal government, 49 states (all excluding Oklahoma), and five of the nation’s biggest banks and mortgage servicers, is now done and complete. RIP.
    Read More
  • Federal Reserve fines Citigroup $8.6 million for mortgage document issues

    Employees allegedly signed documents without knowing what was in them
    A major U.S. bank is being fined over sloppy mortgage documentation practices and no, it’s not Wells Fargo. The Federal Reserve announced Friday that it fined CitiGroup $8.6 million over the “deficient execution and notarization of certain mortgage-related affidavits” by its subsidiary CitiFinancial.
    Read More