Blog posts with "Citigroup"

As reported in this PBS NewsHour video by anchor Judy Woodruff: Five major institutions pled guilty to rigging currencies and manipulating the foreign exchange market. The banks also agreed to pay more than $5 billion combined in new penalties. The fines were some of the biggest brought to date by the federal government. The banks were accused of manipulating the world’s largest and least regulated trading market, where trillions of dollars change hands. Among those pleading guilty, J.P. M...

The U.S. House of Representatives recently passed an 85-line bill entitled the Swaps Regulatory Improvement Act of which 70 lines were drafted by Citigroup including two key paragraphs, according to emails reviewed by The New York Times, which marked the eighth bill passed by the House in 2013 designed to weaken the 2010 Dodd-Frank Act. As explained by The Times, the bill is “part of a broader campaign in the House, among Republicans and business-friendly Democrats, to roll back elements of...