citigroup

The $800 Trillion Scandal: How Banks' LIBOR Lies Affected You

The incredible LIBOR rate-rigging scandal is huge, and it's only going to grow in scope: Many of the world's largest banks have already been implicated in manipulating interest rates that are tied to some $800 trillion in loans and securities.

The 7 Safest Banks in America

Moody's downgrade of 15 of the world's largest banks, along with JPMorgan Chase's multibillion-dollar trading loss, make it clear that big banks aren't always as safe as we'd hope. Still, we have to keep our money somewhere -- So 24/7 Wall St. has compiled a list of the nation's safest banks.

Global Woes Hold Only 'Modest Contagion' Risk for U.S. Banks

A "modest contagion" for financial stocks "should allow domestically focused financial stocks to stabilize in the coming weeks," despite the JPMorgan Chase trading mess and the "deteriorating conditions in Europe, according to KBW analyst Fred Cannon.

3 New Ways to Get Real Help On Your Underwater Mortgage

Good news: The housing market is looking up. Bad news: Nearly 11 million mortgages are still underwater. More good news: Real help for those homeowners is finally available. More bad news: Getting that help can be baffling. Extra good news: Jean Chatzky's here to help.

'Jeopardy!' Champ Watson Lands a Job on Wall Street

Impressed by the speed and accuracy with which Watson churned out answers (or rather, "questions") in its winning performance in the Jeopardy! Challenge last year? Citigroup was, too -- so much so that it has hired the supercomputer to assist its human financial professionals.

AmEx Blue Cash: Don't Get It for Gas, Get it for Groceries

The best gas cards combine generous rebates and industry-standard interest rates. In our ongoing series examining the best and worst credit card offers out there, we ask: Does American Express' Blue Cash Preferred card measure up?

Which Credit Card Rewards Does the IRS Care About?

Citibank recently sent recipients of a special frequent flier mile promotion an unwelcome surprise: a 1099 tax form indicating those miles are taxable income. Wondering if your other credit card rewards might be taxable too? Well, stop worrying.

Fee Backlash Cost Big Banks Over 2 Million Customers

Switching banks is a hassle, but outrage over the big financial institutions' efforts to pile on new steep fees pushed more than 2 million people to close their accounts over the past 3 months. Is Bank Transfer Day becoming Bank Transfer Year?

Why Dollar Stores Are Hotter Than Ever (Even for the Rich)

Dollar stores are luring a lot more consumers these days, and their rock-bottom prices aren't the only reason: The chains have undergone major makeovers in recent years, sprucing up their dingy digs and adding better merchandise.

Financial Scams: The Latest Twists in the Art of the Con

You're not going to fall for the old Nigerian prince scam anymore -- but the fraudsters know that, and they've moved on, too. Here are some financial scams that made the rounds in 2011 -- and will likely be back in some form this year.

Voila! Bankrupt Cities Are Solvent Again! (Or Not)

Last month, Harrisburg, Pa., tried to throw in the financial towel and declare Chapter 9, but a judge threw out the bankruptcy petition. That doesn't mean the city is magically healthy again, though, and it's not the only municipality in similar straits. Here's why it matters to the rest of the country.

The Best Rewards Cards You've Never Heard Of

Looking for a credit card that pays better rewards: You may be shopping in the wrong place. Rewards offered by traditional credit cards have been shrinking. Yet there is a certain class that offers consumers a better deal.

U.S. Stock Market Poised for Another Huge Drop

The bad news is that the stock market, as measured by the S&P 500, sits at 1,131, a low point it hasn't traded near consistently since late 2009. The worse news is that there's every reason to believe it will decline further to below 900, back to levels it hit around March 2009.

Less Need Now to Read Your Credit Card's Fine Print

It appears that complaints from consumers and regulators about the lack of credit card transparency at banks have not fallen on deaf ears. According to CardHub.com's 2011 Credit Card Application Study, the 10 biggest issuers of plastic have significantly improved transparency this year.

UBS Joins Growing List of Bank Layoffs

In a cost-cutting move, Swiss banking giant UBS announced that it would trim 3,500 people from its workforce. Most of the cuts, which are expected to save $2.5 billion in annual costs, will be in the firm's underperforming investment banking unit. It's the latest in a string of big bank layoffs. Who could be next?

At Last, Citigroup Starts to Pull Through

It took a while -- three years, really -- but Citigroup, by far the weakest of the big banks coming out of the recession, is starting to pull through. After this morning's second-quarter earnings report of $3.3 billion, or $1.09 per share, investors have several things to rejoice over.

The Financial Landscape: OPEC Quotas and 'Too Big to Fail'

The theme for Thursday is big players adjusting to a changing world: Citigroup is shutting down a major hedge fund it used for soon-to-be-banned proprietary trading, Goldman has been subpoenaed over its role in the subprime mortgage crisis, and OPEC is thinking that it might need to pump more oil.

Will Google Turn Android Phones into Credit Cards?

Many major companies are hoping that consumers will use their smartphones as a credit or debit card, and Google may be preparing to join in with its Android phones. But is the trend, which has grown popular in Japan, finally ready to take off in the U.S.?