A former Securities and Exchange Commission official has agreed to pay a $50,000 fine for going through the revolving door and working with an alleged Ponzi scheme mastermind Robert Allen Stanford after allegedly taking part in SEC decisions not to investigate Stanford, the Justice Department said Friday. Read full article > >

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Ex-SEC official fined for taking job with alleged Ponzi schemer

The Securities and Exchange Commission said Thursday that it will challenge a federal judge’s rejection of the agency’s $285 million fraud settlement with Citigroup. The agency is asking an appeals court to overturn the decision by U.S. District Court Judge Jed S. Rakoff in Manhattan. In rejecting the deal, Rakoff argued that the penalty amounted to mere pocket change for Citigroup and that he had no basis to assess whether it was appropriate because the firm neither admitted nor denied wrongdoing. Read full article > >

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SEC to appeal federal judge’s rejection of Citigroup deal

The Securities and Exchange Commission said it would appeal a federal judge’s decision to reject a settlement with Citigroup over securities fraud charges related to the financial crisis.

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S.E.C to Appeal Rejection of Citigroup Settlement

Investors lost more than $700 million in a deal in which they were allegedly defrauded by Citigroup, much more than the $285 million the SEC is willing to accept to settle its case against the firm , according to a court document filed Monday. It is a “reasonable to estimate” that investors’ losses or expected losses from the transaction exceed $700 million, the Securities and Exchange Commission said in the filing. But all of those losses are “not necessarily” the result of Citigroup’s alleged misconduct, the SEC said. Read full article > >

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Investors lost $700M in Citigroup deal, SEC says

Chase, Citigroup, and others cancel plans.

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Big Banks Backtrack on Debit Fees

Federal regulators charged a Citigroup unit with negligence Wednesday, saying it misled investors about an investment product it used to bet against them as the housing market deteriorated. Citigroup agreed to pay a settlement of $285 million, which will be distributed to investors, the Securities and Exchange Commission said. Read full article > >

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Citigroup agrees to pay $285M to investors for negligence, SEC says

Alwaleed bin Talal owns stakes in Citigroup, News Corp.

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Spain to Investigate Saudi Prince for Rape

The Carlyle Group took another step toward going public Friday when it selected J.P. Morgan Chase , Citigroup and Credit Suisse Group for the coveted roles of lead underwriters. The move, confirmed by people familiar with the process, follows two weeks of interviews in New York between Carlyle and nearly a dozen investment banks. The Washington-based private equity giant has a team of insiders preparing paperwork that it expects to file with regulators this summer, according to people familiar with the decision who would not speak on the record before an official announcement. Carlyle is expected to hire more banks to assist the lead underwriters. Read full article > >

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Carlyle Group picks three investment banks as lead underwriters for expected IPO

Capital One Bank announced a $9 billion deal Thursday to acquire the online bank ING Direct USA, accelerating the McLean firm’s transformation from a credit card lender to a mainstream consumer bank. The acquisition catapults Capital One from being the eighth-largest U.S. bank measured by deposits to the fifth — bigger than U.S. Bancorp and just below Citigroup. It also makes Capital One the country’s largest online bank, putting it at the forefront of an industry evolution that targets younger customers. Read full article > >

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Capital One Bank to acquire ING Direct USA

After paying CEO Vikram Pandit just $1 in compensation during the past two years, Citigroup is awarding its chief a hefty sum: a $23.2 million retention package that could make him the highest-paid executive on Wall Street. Citigroup was bailed out…

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Citigroup Chief Gets $23.2M ‘Award’

Debt-laden UK music company EMI falls into the hands of US banking giant Citigroup after a long period of wrangling.

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Citigroup takes ownership of EMI

Early this month, when John Boehner was sworn in as the new speaker of the House of Representatives, he tipped his hat to the teabag activists across the country who had fueled the Republican takeover of the chamber last fall. He almost choked up as he promised to “give the government back to the American people.” read more

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Jim Hightower | Republicans Give Government Back to Their Corporate Paymasters

Citigroup reports a $1.3bn fourth quarter profit, but its shares fall on disappointment that the results are not better.

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Citigroup profits below forecasts

Citigroup boss Vikram Pandit and 10 other executives is named in a complaint about an alleged scam at an Indian branch of the bank, police say.

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Citibank boss blamed over ‘scam’

The US Treasury sells its remaining shares in bailed-out Citigroup, netting a profit of $12bn for the US taxpayer.

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Citigroup sale nets profit for US