Citigroup Inc has agreed to take steps to clean up its compliance with bank secrecy and money laundering laws as part of an agreement with the Office of the Comptroller of the Currency (OCC), the OCC announced on Thursday.
The Commodity Futures Trading Commission said on Wednesday that JPMorgan Chase will pay $20 million to settle charges that it unlawfully handled customer segregated funds at Lehman Brothers Holdings Inc.
Oracle Corp and Google Inc have reached an "irreconcilable impasse" in settlement negotiations in a high-profile intellectual property lawsuit and the companies' lawyers should prepare for trial, a U.S. magistrate judge ruled on Monday.
Ambac Financial Group Inc, the bond insurer that last month won court approval to emerge from bankruptcy, has sued JPMorgan Chase to recover losses on mortgage securities that it insured and were made by the former Bear Stearns.
A federal judge rejected the U.S. Securities and Exchange Commission's demand that Wells Fargo Co. comply with subpoenas related to a probe of the bank's sale of $60 billion of mortgage-backed securities, but directed both sides to meet.
Citigoup has sold its stake in Chinese lender Shanghai Pudong Development Bank, booking a profit of around $349 million as the U.S. lender looks to shore up its balance sheet after failing a U.S. Federal Reserve stress test.
Citigroup Inc on Wednesday stood by its pledge to reward shareholders, as Wall Street sought to understand why the bank failed to win approval from regulators to increase its dividend or buy back stock.
Citigroup and MetLife led a list of financial institutions that failed the Federal Reserve's latest round of stress testing Tuesday, a shock result for two companies that were widely expected to return billions of dollars in extra capital to shareholders soon.