By Citi May 11, 2010 12:58 PM
Consumer financial products, such as debit and credit cards, are powerful tools to be used carefully. That's why at Citi, we make it a priority to embed in them features that give our customers more choice and control in how they spend, save and borrow.
We're proud to have industry-leading innovations that help our customers take charge of their finances. For example, our Citi Forward® card rewards our customers for using credit wisely and helps them see the benefits of maintaining healthy credit. Those consumers who make purchases within their credit limit and make timely payments on their card can reduce their purchase APR. Our award-winning Use Credit Wisely website also offers consumers important financial education information and tools.
By Lisa Caputo, Executive Vice President and Chief Marketing Officer, Citi May 10, 2010 03:19 PM
Among Citi's many accomplishments this year, there is one of which I am particularly proud -- the 10-year anniversary of Women & Co. Over a decade ago, Citi sponsored a conference for executive women where we heard that women were looking for more support from financial services companies when it came to personal wealth management. An idea was born.
Since women have distinct financial realities -- they live longer, spend more years in retirement and take more time out of the workforce to care for family -- they need to have the information and resources to address their unique situation. Recognizing this dynamic, Citi launched a financial resource dedicated to women's financial realities, the first of its kind and a leader in the industry today.
By Gladys M. Coupet, Citi Country Officer-Haiti May 07, 2010 05:47 PM
The devastating earthquake that struck my home country of Haiti earlier this year took hundreds of thousands of lives, including five of our Citi colleagues, and continues to impact millions. And while we don't know how long it will take to recover, Citi is taking a major step in the right direction by providing $1 million in charitable contributions to local microfinance institutions -- grants that will help create jobs and contribute to long-term economic development.
The funds will be distributed to three organizations: Fonkoze, FINCA Haiti and SOGESOL -- all experienced microfinancing institutions with impressive records of success here. These groups will extend credit as well as grants to entrepreneurs and small business owners who provide needed services and are the future of the Haitian economy.
By Vikram Pandit, CEO May 06, 2010 11:38 AM
Today, Citi is making a major investment in the U.S. economy by launching the $200 million Communities at Work Fund (CWF) -- the largest fund in the nation dedicated to offering financing to small businesses and community service providers in low-income communities.
The Fund, and our investment in it, are a true reflection of our strong commitment to the communities we serve, and to providing them credit that creates jobs and opportunity.
By Raj Seshadri, Head of Small Business Banking May 06, 2010 09:20 AM
Small businesses face big challenges -- in both good economic times and bad. Yet a new Citibank survey suggests that America's entrepreneurs are undaunted by the recession and positive about their future prospects -- despite current difficulties and the lasting effects of the economic downturn.
The encouraging data was announced this week as we released the results of a survey of more than 550 U.S. small businesses, each with annual revenues exceeding $100,000 and fewer than 100 employees. The survey results show that even in the face of lasting effects from the recent downturn, small business owners -- especially those under 45 -- are optimistic.
By Citi May 05, 2010 05:01 PM
In March, Citi's Chief Executive Officer for Europe, Middle East and Africa Alberto Verme visited the Finance Academy of the Russian Federation, and spoke to students and faculty about the financial services industry in the wake of the financial crisis.
By Laura Lane, Managing Director and Head of International Government Affairs May 04, 2010 05:30 PM
With a presence in over 100 countries, Citi has a unique perspective on how global markets are interconnected and what the needs of our clients and customers are worldwide. With that vision, we see it as part of our responsibility to work with governments around the world on the development of new regulations for the financial services industry -- regulations aimed not just at preventing another crisis, but also at ensuring the sector's ability to drive growth, create jobs and promote prosperity.
Proposed regulations cover a variety of areas that need reform: transparency, standardization, capital and liquidity requirements, resolution authority and more. And while the need for new rules is clear, so too is the need for governments to develop and implement rules based on a shared understanding of market realities and growth drivers. Put simply, regulators should take a global view when designing rules for a global financial system.
By Susan Chapman, Chief Administrative Officer for Citi Realty Services May 03, 2010 10:00 AM
Did you mark Earth Day? We did, and do each day, by continuing to be an industry leader in the area of sustainability. It's a big challenge for a big company - Citi has 12,500 properties in 101 countries and more than 80 million square feet of space.
Our real estate sustainability team guides earth-conscious practices for Citi facilities globally. With that range of responsibility, imagine the scope of the issues they face while implementing Citi's commitment to green around the world.
By Citi April 27, 2010 02:27 PM
The U.S. unemployment rate is hovering around 10 percent, and more than 6.5 million people nationwide have been out of work longer than six months. These aren't abstractions, but hard facts to live with every day.
We're committed to doing what we can to help our customers feeling the strain of unemployment or other types of financial setbacks with short- and long-term relief. As we have detailed before on this blog, Citi has a range of innovative programs to help our customers deal with what is often the most serious challenge -- mortgage debt. But our hardship assistance also extends to Citi borrowers who are having difficulty managing other types of debt, such as that from credit cards, auto loans and personal loans.
By Citi April 27, 2010 01:31 PM
Small business is the backbone of the American economy, and its success is critical to the nation's recovery. Here at Citi, we are committed to providing small business owners with the advice and tools they need to manage their businesses even better, and to grow and create jobs.
As part of that commitment, we are hosting a series of small business seminars in the New York area that will help business owners make sound financial choices. The program kicked off last week in Brooklyn with an event that focused on the latest techniques to guard against identity theft and online fraud. The series will continue throughout April and early May in Queens, Staten Island and the Bronx, with other seminars addressing "Cash Management Strategies."