The customers of Citigroup should be careful before they plan to deposit their hard earned money in the bank. Lately, the bank has been in news for breaching the law by defrauding its customers. As a way to apologize, the group apologized to its customers and promised the Securities and Exchange Commission of not repeating it again.
In a cyber disaster, consumers were affected as their name and credentials were exposed online. These consumers were mostly from Citigroup to Walgreen to HSN. The US corporate firm were the targets.
The US Treasury has announced that the sale of its part in Citigroup has fetched a profit amounting to $12-billion. The profit has been earned on its overall investment in Citigroup It needs to be remembered that the US government had provided a relief bail-out of $45-billion to the financial group, after it had crashed out in one of the worst economic downturns ever witnessed.
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