HSBC got plenty of attention when it disclosed that it had suspended foreclosures in its annual report Monday. But its not the only bank whose annual report made for interesting reading. The risk disclosures in banks' annual reports shed some light on their attitudes toward the mortgage mess.
The Citigroup bailout is officially over: The U.S. Treasury has sold the last of its shares of the bank. Overall, the U.S. government netted $12 billion in profit from the $45 billion bailout.
A lawsuit filed Wednesday accuses Citigroup of discrimination by laying off a disproportionate number of women during the financial crisis. In the company's Public Finance Department, for example, the percentage of female managing directors and directors fell from 11% to 7%, according to the suit.
Citigroup is on the hook for $11.5 million in damages after losing an arbitration case against actor Larry Hagman, best known for his role as J.R. Ewing in the television series "Dallas," who had accused the bank of fraud and misconduct.
After accusing Citigroup of misleading investors to the tune of more than $50 billion, the Security and Exchange Commission's proposed settlement of $75 million raised more than a few eyebrows -- including those of a federal judge. Now the SEC defends its proposed fine.
