NEW YORK--(BUSINESS WIRE)--Today, Citi has announced that it has successfully completed a proof of concept on tokenization of private funds along with Wellington Management and WisdomTree. The proof of concept, which was conducted on the Avalanche Spruce institutional test Subnet, found that smart-contract capabilities could deliver new functionality and operational efficiencies, which are currently unavailable with traditional assets. These new functionalities could enable buy- and sell-side institution ...

Citigroup (C) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this U.S. bank have returned +1.7%, compared to the Zacks S&P 500 composite's +3.7% change. During this period, the Zacks Banks - Major Regional industry, which Citigroup falls in, has gained 0.6%. The key question now is: What could be the stock's future direction?Although media reports or rum ...

Troubles for Citigroup Inc. (C) do not seem to end. The bank, which had begun revamping its underlying technology, risk management and internal controls as part of remediation highlighted by the Office of the Comptroller of the Currency (“OCC”) and the Federal Reserve, is now being pushed by regulators to make urgent changes in the way it measures default risk of its trading partners.In addition to this, the bank’s own auditors have found issues with a proposal to improve internal oversight, as reported by ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

NEW YORK--(BUSINESS WIRE)--Citi Securities Services announces the launch of Financial Information eXchange (FIX) API connectivity on ACES1 – the bank’s online, global ETF portal that fully automates the entire ETF process. Borne out of a successful client pilot, the new integration offers more simplified order management and onboarding. Authorized participants are now able to connect directly to the ACES platform and manage ETF share creation and redemptions in a more seamless manner. FIX refers to a co ...

Citigroup (C) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this U.S. bank have returned +7.6%, compared to the Zacks S&P 500 composite's +3.3% change. During this period, the Zacks Banks - Major Regional industry, which Citigroup falls in, has gained 3.8%. The key question now is: What could be the stock's future direction?Although ...

New York Attorney General Letitia James accused Citi of failing to protect fraud victims.In a lawsuit filed Tuesday (Jan. 30), the state’s top prosecutor alleged that the banking giant has no protections against account takeovers, misleads customers about their rights when their accounts are hacked, and unlawfully denies fraud victims reimbursements.“Banks are supposed to be the safest place to keep money, yet Citi’s negligence has allowed scammers to steal millions of dollars from hardworking people,” Jame ...

New York state’s attorney general’s office on Tuesday said it had sued Citibank for allegedly failing to protect customers from electronic fraud and secure reimbursement for victims, which it said had cost customers in the state millions of dollars.In a lawsuit filed in Manhattan federal court, Attorney General Letitia James alleged Citi’s lax security protocols allowed scammers to gain easy access to users’ accounts and steal their deposits through unauthorized wire transfers.“Banks are supposed to be the ...

New York Attorney General Letitia James sued Citibank for allegedly failing to protect and reimburse victims of electronic fraud, according to a Tuesday release.The suit claims that Citi does not have strong protections in place to prevent unauthorized account takeovers, misleads victims of fraud and illegally denies reimbursements. The attorney general's office said the alleged failure on Citi's part has cost New York account holders millions of dollars, and in some cases, their entire life savings."Banks ...

LITTLE ROCK, Ark. & PURCHASE, N.Y. & NEW YORK--(BUSINESS WIRE)--Dillard’s, Inc. (“Dillard’s”) (NYSE: DDS), Citi (NYSE: C) and Mastercard (NYSE: MA) announced today that the companies have entered into new agreements to provide a credit card program for Dillard’s customers. Citi will purchase the existing Dillard’s credit card accounts and Mastercard will serve as the exclusive payment network for co-branded cards offered under the new program. The Dillard’s credit card program offered by Citi will includ ...