Citigroup Inc agreed to pay $25.9 million to settle U.S. Consumer Financial Protection Bureau charges it intentionally discriminated against credit card applicants who the bank identified as Armenian-American based on their last names.
Turkish banks plan to urge Treasury authorities to allow them to use inflation-adjusted accounting, rather than exempting them and ramping up taxes for the sector as the government currently plans, three senior bankers told Reuters.
As Canada’s economy enters a period of sluggish growth, the big banks are looking to fortify their balance sheets against rising bad debts, but instead of tapping shareholders for funds, the lenders are expected to sell non-core assets and cap dividends, fund managers and analysts said.
Italy’s top insurer Assicurazioni Generali still has 500 million euros ($533.10 million) left for M&A deals, which will be returned to shareholders if not used for acquisitions, its Chief Executive Philippe Donnet said on Wednesday.
Lloyd’s of London (SOLYD.UL) will invest 40 million pounds ($49.6 million) in regions affected by the transatlantic slave trade, it said on Wednesday, after a report showed the commercial insurance market had strong links to the trade.