Citigroup Inc
FILE - This Jan. 13, 2021, file photo shows a Chase ATM in New York. All 23 of the nation's biggest banks are healthy enough to withstand a sudden economic catastrophe, the Federal Reserve said Thursday, June 24, as it released the results from its latest "stress tests," giving the banks the green light to start paying out dividends to investors and buying back stock. (AP Photo/Mark Lennihan, File)
All big banks pass latest Federal Reserve 'stress tests'

By Ken Sweet Jun. 24, 2021 04:41 PM EDT

This image from video provided by the House Financial Services Committee shows Wells Fargo CEO Charles Scharf testifying virtually to the House Financial Services Committee Thursday, May 27, 2021. (House Financial Services Committee via AP)
Bank CEOs tell Congress they'll work to avoid foreclosures

By Ken Sweet May. 27, 2021 01:12 PM EDT

This image from video provided by the Senate Banking Committee shows Citigroup CEO Jane Fraser testifying virtually to the Senate Banking Committee Wednesday, May 26, 2021. (Senate Banking Committee via AP)
Bank CEOs outline pandemic support; senators split on issues

By Ken Sweet And Marcy Gordon May. 26, 2021 10:27 AM EDT

People walk by an electronic stock board of a securities firm in Tokyo, Wednesday, April 21, 2021. Shares skidded in Asia on Wednesday after Wall Street closed lower for a second straight day, led by drops in technology companies and banks. (AP Photo/Koji Sasahara)
Asian shares slide after tech, bank sell-off on Wall Street

By Elaine Kurtenbach Apr. 20, 2021 02:12 AM EDT

A Citibank office is open, Wednesday, Jan. 13, 2021 in New York. The nation’s largest banks are expected to report big profits for the first quarter, Tuesday, April 13, amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again (AP Photo/Mark Lennihan)
Citigroup profit triples in 1Q, tops estimates; revenue down

By Ken Sweet Apr. 15, 2021 09:10 AM EDT

Bank of America signage is shown Wednesday, Feb. 10, 2021, in Atlanta. The nation’s largest banks are expected to report big profits for the first quarter, Tuesday, April 13, amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again(AP Photo/John Bazemore)
Banks to see big profits as COVID 'bad' loans become 'good'

By Ken Sweet Apr. 13, 2021 12:36 PM EDT

People wearing face masks walk past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, April 13, 2021. Asian shares were mostly higher on Tuesday with hopes growing for a global economic rebound despite worries over renewed surges in coronavirus cases. (AP Photo/Vincent Yu)
Asian shares gain despite virus worries; China exports rise

By Yuri Kageyama Apr. 12, 2021 02:53 AM EDT

A man wearing a protective mask walks in front of an electronic stock board at a securities firm Friday, March 19, 2021, in Tokyo. Asian stock markets followed Wall Street lower on Friday after rising U.S. bond yields pulled stocks lower, dampening enthusiasm driven by the Federal Reserve's promise of low interest rates. (AP Photo/Eugene Hoshiko)
Wall Street closing lower; bank stocks fall

By Damian J. Troise And Alex Veiga Mar. 19, 2021 01:37 AM EDT

FILE - In this Nov. 23, 2020 file photo, a street sign is displayed at the New York Stock Exchange in New York. Stocks were mixed in early trading on Monday, March 15, 2021, as investors sifted a mixed bag of data from China. Wall Street continues to eye the bond market, where yields gave back some of last week's gains. (AP Photo/Seth Wenig, File)
Asia shares mostly higher after US stocks gain for fifth day

By Yuri Kageyama Mar. 15, 2021 05:13 AM EDT

A currency trader stretches at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, March 11, 2021. Stocks climbed in Asia on Thursday after a key measure of inflation in the U.S. came in lower than expected, easing worries that price pressures could push interest rates higher. (AP Photo/Ahn Young-joon)
Asian shares advance as yields, inflation fears moderate

By Elaine Kurtenbach Mar. 10, 2021 01:21 AM EST

FILE - In this Dec. 13, 2016, file photo, the logo for Goldman Sachs appears above a trading post on the floor of the New York Stock Exchange. Goldman Sachs said its profits more than doubled from a year earlier thanks to a surge in both trading and advising revenue. (AP Photo/Richard Drew, File)
Goldman Sachs' profits more than double, despite pandemic

By Ken Sweet Jan. 19, 2021 08:57 AM EST

A Wells Fargo office is shown, Wednesday, Jan. 13, 2021 in New York. Wells Fargo & Co. says its profit rose 4% to $2.99 billion in the fourth quarter of 2020. The bank, based in San Francisco, said Friday that it had earnings of 64 cents per share, compared with earnings of 60 cents a year earlier. (AP Photo/Mark Lennihan)
Optimistic banks start moving 'bad' loans back to 'good'

By Ken Sweet Jan. 15, 2021 01:41 PM EST

A Citibank office is open, Wednesday, Jan. 13, 2021 in New York. Citigroup Inc. says earnings for the fourth quarter of 2020 fell 7% to $4.63 billion. The New York-based bank said it had earnings of $2.08 per share, down from $2.15 per share a year earlier. (AP Photo/Mark Lennihan)
Citigroup 4Q profit down 7%, revenue drops by 10%

By Ken Sweet Jan. 15, 2021 10:02 AM EST

FILE - This Monday, Nov. 16, 2020 file photo shows the Federal Reserve in Washington. The Federal Reserve said Friday, Dec. 18, 2020 that the 33 largest U.S. banks are in strong shape despite the pandemic’s economic shock. (AP Photo/J. Scott Applewhite, File)
Fed finds big US banks in solid shape; keeps dividend limits

By Marcy Gordon Dec. 18, 2020 04:42 PM EST

FILE - This Aug. 11, 2019 file photo shows Visa credit cards in New Orleans. The coronavirus pandemic hasn’t stopped Americans from keeping up with their credit card payments, thanks in large part to government relief programs passed by Congress earlier this year. For some, however, the ability to keep buying things with plastic and then pay the bill likely depends on whether current negotiations in Washington produce another round of economic aid. (AP Photo/Jenny Kane, File)
Americans can pay their credit card bills, but for how long?

By Ken Sweet Dec. 07, 2020 07:06 AM EST

Wall Street executive Ray McGuire joins NYC mayor's race

Oct. 15, 2020 05:52 PM EDT
NEW YORK (AP) — Raymond McGuire, a longtime Wall Street executive, has entered the race to be the next mayor of New York City. McGuire, 63,...

FILE - In this Oct. 14, 2019 file photo a passer-by walks past the entrance to a Bank of America ATM, in Boston. Bank of America Corp. says profit fell 15.6% to $4.88 billion in the third quarter from $5.78 billion a year ago. The bank, based in Charlotte, North Carolina, said Wednesday, Oct. 14, 2020, that it had earnings of 51 cents per share. (AP Photo/Steven Senne, File)
Bank of America profit falls 15.6% in third quarter

By Ken Sweet Oct. 14, 2020 07:55 AM EDT

Citi 3Q profit fall 34% but tops Wall Street expectations

Oct. 13, 2020 08:40 AM EDT
NEW YORK (AP) — Citigroup says profit fell 34% in the third quarter due to weakness in its consumer banking division. The New York-based...

Vannak Anan Prum, who was double trafficked, points to his illustration of an abusive former boss, a palm oil estate owner, in his graphic novel depicting his life as a slave on a fishing boat before being sold onto a Malaysian palm oil plantation, at his home in Pursat, Cambodia, Saturday, March 30, 2019. (AP Photo/Gemunu Amarasinghe)
Palm oil labor abuses linked to world’s top brands, banks

By Margie Mason And Robin Mcdowell Sep. 24, 2020 12:31 AM EDT

FILE - In this Monday, Oct. 14, 2019 file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building, in Boston. Consumer banking giant Bank of America saw its profits drop by more than half in the second quarter, the bank reported Thursday, July 16, 2020, as the bank set aside billions of dollars to cover potentially bad loans caused by the pandemic. (AP Photo/Steven Senne, File)
Bank of America sees recessionary impacts 'deep into 2022'

By Ken Sweet Jul. 16, 2020 08:05 AM EDT