News in Brief: US Senator Warren Calls for Limit on Citi’s Growth Amid Regulatory Pressures

Friday, 4 October 2024, 02:57

News in brief: US Senator Elizabeth Warren has urged regulatory action to limit Citigroup's growth in light of ongoing concerns regarding its stability. Meanwhile, Swift plans to initiate live digital currency transactions by 2025. This news is pivotal for the financial landscape as regulatory scrutiny intensifies.
Thebanker
News in Brief: US Senator Warren Calls for Limit on Citi’s Growth Amid Regulatory Pressures

US Senator Warren Advocates for Citi Growth Caps

In a move that echoes financial stability concerns, US Senator Elizabeth Warren has called upon the Acting Comptroller of the Currency, Michael Hsu, to implement growth restrictions on Citigroup. This decision arises from the bank’s persistent regulatory issues, prompting significant discussions among financial experts.

Swift's Plans for Digital Currency Transactions

In related news, Swift has announced plans to pilot live digital currency transactions in 2025. This initiative aims to modernize cross-border payments and enhance the efficiency of digital transactions, marking a crucial shift in the financial services landscape.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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