Results tagged as "leadership"

  • Citi recognized for innovative asset building and financial inclusion programs.

    By Citi September 23, 2010 04:13 PM

    Today, Citi CEO Vikram Pandit gave a speech in Washington, D.C., at the Corporation for Enterprise Development's (CFED) annual conference, where he accepted the Assets and Opportunity Award recognizing Citi's innovative achievements in helping low-income families build assets through education, small businesses, savings and home ownership.

    Read his description of how Citi is putting the full force of our business, resources, products and people to work to help improve the communities we call home.

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  • Rebecca Macieira-Kaufman, profiled.

    By Citi August 12, 2010 05:33 PM

    Rebecca Macieira-Kaufmann, President of Citibank California, was recently profiled in The Glass Hammer, an online community "designed for women executives in financial services, law and business."

    Click here to read the profile, and to learn more about one of Citi's most successful female executives.

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  • Citi appoints Corporate Fair Lending Director.

    By Citi July 28, 2010 06:27 PM

    Citi has appointed Irene Fang as Corporate Fair Lending Director for all of its U.S.-based businesses. Dr. Fang will be responsible for managing Citi's robust Fair Lending program to ensure consistency across businesses with regard to fair lending policies and practices. A thought leader in the fair lending field, Dr. Fang joins Citi after a 21-year career at the Office of the Comptroller of the Currency (OCC). Most recently she was head of the Compliance Risk Analysis Division in the Economics Department, which supports the annual fair lending reviews at every bank in the OCC's large bank program and a number of midsize and community banks.

    Vikram Pandit, Citi CEO, said, "'Fair Lending is a cornerstone of Responsible Finance. The addition of Irene Fang demonstrates our commitment to ensuring that our senior leadership embeds the industry's best and most innovative practices into all of our businesses."

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  • Working to stabilize Europe's economy.

    By Citi June 04, 2010 01:54 PM

    In our increasingly interconnected global economy, events around the world can have serious impact here at home. And in the last several weeks, we have seen instability in European financial markets cause volatility on American exchanges. That instability, due largely to Greece's debt crisis, is being addressed in an aggressive and unprecedented way by the European Union and the European Central Bank (ECB).

    Still, much uncertainty remains. A core problem is the state of the euro-area government bond market, which is currently focused on the potential for some countries to default on their debts rather than bond yields. That focus has left many European financial institutions holding hundreds of billions of euros in risk assets that were previously considered free of risk. Remarking and recategorizing these assets as risky negatively impacts the ability of banks to hold these bonds, and therefore support the capital needs of some euro-zone countries. To improve the situation, our Institutional Clients Group (ICG) has proposed a new program, reported by Reuters among others, that would help stabilize the European bond market: the European Debt Assured Purchase Agreement program.

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  • Citi's newest investment in America: $200 million for low-income communities.

    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.


  • Leaders look at women's role in finance and economic recovery.

    By Citi March 30, 2010 05:28 PM

    Deborah McWhinney, President of Citi Personal Banking and Wealth Management, in a special symposium Monday helped the U.S. Treasury and the White House Council on Women and Girls put the spotlight on the landscape and challenge for women in finance. Other panelists at the Washington, DC event included FDIC chairman Sheila Bair, SEC chairwoman Mary Schapiro, U.S. Treasurer Rosie Rios and Congressional Oversight Panel chair Elizabeth Warren.

    They discussed ways to build women's financial capability as a life skill in high school and college, women's role in the economic recovery and ways to get more women into jobs in banking and money management. Though noting the number of job opportunities in finance is down, panelists said there are big opportunities for those entering an industry confronting crisis and taking new shape. "It is unprecedented how much leadership and forward-thinking it is going to take," McWhinney told the audience, many of whom were university students tuning into a live webcast.

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  • Opt-in is wrong opt-ion.

    By Citi March 18, 2010 06:04 PM

    Citi believes that the proposed overdraft regulations, including "opt-in," don't go far enough in protecting consumers. Before a customer can be charged for an overdraft at an ATM or when using their debit card, they should be given the choice -- at the point of sale -- to approve the transaction or not. And until that happens, the customer does not have true choices. The days of the surprise "$39.00 cup of coffee" are not over until customers have all of the information they need -- at the point of sale.

    At Citi, we've never authorized an overdraft at the ATM or debit point of sale where the customer did not have sufficient funds at the time. On the eve of changing federal regulations, other banks are now telling customers they will also decline these transactions. This is a good thing, even if somewhat late in coming.

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  • Citi protects customers from unnecessary overdraft fees.

    By Citi March 10, 2010 06:24 PM

    Citi helps our customers avoid overdraft fees every day. We have never allowed overdrafts at ATMs or through debit point-of-sale transactions if the customer does not have sufficient funds. We are pleased to see that some other banks are now doing the same in advance of overdraft fee regulations taking effect this year. In addition, Citi also offers low-balance alerts, real-time access to balances online and through mobile services, and overdraft protection products and services, such as our overdraft line of credit and linked accounts with a $10 transfer fee. We're working to make these overdraft protection products available to even more consumers. Also, unlike most of our competitors, we do not assess continuous overdraft charges that can lead to additional costs for consumers.