Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York.
|FactSnippet No. 1,601,036|
Between 1910 and 1911, the Department of State backed a consortium of American investors headed by Citibank to acquire control over the Banque Nationale de la Republique d'Haiti, which was the sole commercial bank of Haiti and served as the Haitian government's treasury.
|FactSnippet No. 1,601,037|
Citibank then pressured the federal government to occupy Haiti, which it did in 1915.
|FactSnippet No. 1,601,038|
Citibank would go on to acquire some of its largest gains in the 1920s due to debt payments from Haiti, according to later filings to the Senate Finance Committee.
|FactSnippet No. 1,601,039|
Citibank unsuccessfully tried again from 1977 to 1987 to create a separate credit card brand, the Choice Card.
|FactSnippet No. 1,601,040|
Under his leadership, the next 14 years would see Citibank become the largest bank in the United States, the largest issuer of credit cards and charge cards in the world, and expand its global reach to over 90 countries.
|FactSnippet No. 1,601,041|
In 2013, Citibank purchased the credit card portfolio of Best Buy from Capital One.
|FactSnippet No. 1,601,042|
In 2002, Citigroup, the parent of Citibank, acquired Golden State Bancorp and its California Federal Bank, which was one-third owned by Ronald O Perelman, for $5.
|FactSnippet No. 1,601,043|
In 1999, Citibank was sued for improperly charging late fees on its credit cards.
|FactSnippet No. 1,601,044|
Citibank will take more than 9,000 square feet of space in the Berkshire Court building at Preston and Northwest Highway.
|FactSnippet No. 1,601,045|
The new Citibank office is described as an “experience center” in the planning documents.
|FactSnippet No. 1,601,046|
On November 4,2007, Charles Prince resigned as the chairman and chief executive of Citigroup, the parent of Citibank, following crisis meetings with the board in New York in the wake of billions of dollars in losses related to subprime lending.
|FactSnippet No. 1,601,047|
In March 2008, Citibank set up Mobile Money Ventures, a joint venture with SK Telecom, to develop mobile apps for banking.
|FactSnippet No. 1,601,048|
On October 19,2011, Citigroup, the parent of Citibank, agreed to a $285 million civil fraud penalty after the US Securities and Exchange Commission accused the company of betting against risky mortgage-related investments that it sold to its clients.
|FactSnippet No. 1,601,049|
Citibank was listed among the American banks that were named as having handled the laundered funds, with banks in the US processing around $63.
|FactSnippet No. 1,601,050|
Citibank was listed as having processed $37 million of that amount, with others including Bank of America, which processed $14 million.
|FactSnippet No. 1,601,051|
In March 2018, Citibank announced a new firearms policy, placing restrictions on financial transactions in the US firearm industry.
|FactSnippet No. 1,601,052|
In 1998, the General Accounting Office issued a report critical of Citibank's handling of funds received from Raul Salinas de Gortari, brother of Carlos Salinas, the former president of Mexico.
|FactSnippet No. 1,601,053|
The report, titled "Raul Salinas, Citibank and Alleged Money Laundering", indicated that Citibank facilitated the transfer of millions of dollars through complex financial transactions that hid the funds' paper trail.
|FactSnippet No. 1,601,054|
The report indicated that Citibank took on Salinas as a client without making a thorough inquiry as to how he made his fortune, an omission that a Citibank official called a violation of the bank's "know your customer" policy.
|FactSnippet No. 1,601,055|
Citibank is one of the lead lenders to the developers of the Dakota Access Pipeline project in North Dakota, a 1,172-mile-long oil pipeline project.
|FactSnippet No. 1,601,056|
Citibank has been punished by the Japanese Financial Services Agency twice for aiding and abetting money laundering by Yakuza members; there was no punishment from the US side.
|FactSnippet No. 1,601,057|