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Citigroup extends global workforce reductions into 2026
Investing.com -- Citigroup Inc (NYSE:C) is preparing to initiate a fresh wave of staff reductions in March, following a preliminary round of approximately 1,000 job cuts completed earlier this month. “We will continue to reduce our headcount in 2026,” a representative of Citigroup wrote in an emailed statement to Investing.com. The bank attributed these changes to evolving business requirements, technological efficiencies, and the final stages of its institutional transformation. Chief Executive Jan 23, 2026 - $C
Trump's call for a 10% credit card rate cap is 'inconceivable'
Trump called on Congress to implement a 10% cap on credit card interest rates, but Wolfe Research head of US policy and politics Tobin Marcus says that the odds of the cap coming to fruition are "essentially zero," highlighting unintended consequences for consumers. Marcus tells Market Catalysts Host Julie Hyman that some of the other affordability-focused efforts that Trump has called for — like banning large institutional investors from buying single-family homes — and the Credit Card Competition Act are unlikely, but not "inconceivable" like the credit card rate cap. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts. Jan 22, 2026 - $C
Bank of America, Citigroup Weigh New Credit Cards With 10% Rate
Bank of America and Citigroup are exploring options they could offer up as an olive branch to satisfy President Donald Trump's demand to cap credit card interest rates at 10% for one year. Saul Martinez, Head of US Financials Research at HSBC says that the proposed 10% cap on credit card interest rates would be difficult to implement without new legislation and is unlikely to materially change bank profitability in the near term. He joined the discussion on "Bloomberg Markets" with Scarlet Fu. Jan 22, 2026 - $C
Bank of America, Citi Weighing New Credit Cards With 10% Rate
Bank of America and Citigroup are exploring options they could offer up as an olive branch to satisfy President Donald Trump's demand to cap credit card interest rates at 10% for one year. Katherine Doherty reports on Bloomberg Television. Jan 22, 2026 - $C
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