Justin Baer

New York Attorney General Letitia James sued a unit of Citigroup, alleging the bank failed to protect its customers from online scams and then illegally denied those account holders reimbursements. “The results are devastating,” James’s office wrote Tuesday in its civil complaint. “Consumers lose tens of thousands of dollars or more by doing nothing more than clicking on a link in a text that appears to be from a trusted source, providing information on a call with a purported representative of Citi, or answering security questions on a website that looks official.”

It’s not spring yet, but the investment-banking business is beginning to warm up after two down years for deals. Citigroup Chief Executive Jane Fraser said Tuesday that sentiment among corporate clients “is definitely improving,” and predicted Citi’s investment-banking fees would rise by the “low teens” this quarter from the last three months of 2023. While merger activity has perked up, investment banks like Citi need to wait until those deals close before they’re paid for their advisory work.

New York Community Bancorp is seeking to raise equity capital in a bid to shore up confidence in the troubled regional lender.

Struggling lender has contacted investment firms on potential equity raise New York Community Bancorp is seeking to raise equity capital in a bid to shore up confidence in the troubled regional lender.

Former Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital is among the investors in the troubled lender.

Citi CEO Jane Fraser says the bank is embarking on the final stage of its reorganisation

Citigroup reported a 27% drop in its first-quarter profit as expenses, including from the bank’s restructuring plans, offset revenue gains by some of its biggest businesses. Shares of the third-biggest U.

Bank of New York Mellon just posted the highest quarterly revenue total in its 240-year history, lifting profits by 5%. + BNY Mellon had revenue of $4.53 billion, up 3% from a year earlier and above analysts’ $4.39 billion estimate. The first-quarter revenue figure marked a new all-time high, on an ongoing operating basis.

Peter Johnson was one of the volunteers who risked their lives rescuing the survivors of the wreck of the steamer City of Columbus on Devil’s Bridge.