Citi Settles With DOJ, Mass.; Banamex USA Ops to End June 30
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
C US (Citigroup Inc)
BANACCIB MM (Grupo Financiero Banamex SA de CV)
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UUID: 7947283
(Bloomberg) -- Citi concludes all remaining open inquiries conducted jointly by DOJ, AG for Mass. concerning Bank Secrecy Act (BSA), anti-money laundering (AML) compliance conduct of Citigroup, related entities, including Banamex USA (BUSA).
- Settlement includes non-prosecution agreement, forfeiture of ~$97m, for which C is fully reserved
- Follows BUSA settlement in July 2015 with FDIC, Calif. Dept. of Business Oversight
- BUSA anticipates stopping banking operations as of June 30 as FDIC doesn’t object to liquidation plan
- C shares reverse earlier gains, tracking lower with KBW Bank Index
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
C US (Citigroup Inc)
BANACCIB MM (Grupo Financiero Banamex SA de CV)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283