Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat.

Citigroup's CEO Vikram Pandit abruptly resigned Monday, surprising nearly everyone from bank employees to Wall Street. But given the company’s performance during Pandit’s tenure, perhaps his departure should not have been unexpected.

Citigroup has agreed to pay $590 million to settle legal claims by shareholders that its executives misled them about the bank's growing problems before the financial crisis.

Sherry Hunt grew up in the Midwest, wears plaid flannel shirts, and likes to ride horses. She is also the whistleblower who cost Citigroup $158.3 million and exposed deep deceptions at the massive bank. In an expose out today in Bloomberg Markets Magazine, projects and investigations reporter Bob Ivry details the cover-up culture at Citigroup — and the courage it took for Hunt to come forward.

Citigroup shareholders have voted down the bank's $15 million pay package for its chief executive, Vikram Pandit. It's the first time that stock owners have united in opposition to outsized compensation at a major bank. Is this a new era of bank backlash? Eleanor Bloxham is the CEO of The Value Alliance, a board advisory firm, and Peter Morici is a macroeconomist and professor of international business at the University of Maryland. He is also the author of several books, including "Antitrust in the Global Trading System."

A federal appeals court says a judge may have overstepped his authority when he blocked a $285 million settlement over toxic mortgage securities.

Read the court order here.

Citigroup’s mortgage unit has agreed to pay $158.3 million to settle charges that it defrauded a U.S. government home loan insurance program.

A New York City judge says his decision blocking a $285 million settlement over toxic mortgage securities should stand.

Investment bank Morgan Stanley announced it will cut nearly 1,600 people after seeing business fall in its investment banking and trading divisions.

Citigroup Inc. is eliminating 4,500 jobs in its latest effort to cut costs. The bank will take a $400 million charge in the fourth quarter as a result.

A federal judge in New York has struck down a $285 million settlement that Citigroup reached with the Securities and Exchange Commission, citing a need for truth about the financial markets.

Citigroup has settled charges by the Securities and Exchange Commission that one of its subsidiaries deceived investors in a mortgage-related product right before the collapse of the housing market.

Bank of America and Goldman Sachs are scheduled to release their earnings reports for the third quarter today. Yesterday, Citigroup reported a 74 percent rise in their earnings and Wells Fargo reported a 21 percent increase, and last week JP Morgan reported a 4 percent fall in profits. Morgan Stanley and U.S. Bancorp are expected to release their reports on Wednesday.

William Rhodes, former senior vice chairman of, and currently senior advisor to, Citigroup and Citibank, talks about his career, including working abroad with such figures as Fidel Castro, and his new book, Banker to the World: Leadership Lessons from the Front Lines of Global Finance.

Citigroup announced Thursday that former budget director Peter Orszag has joined the bank as a vice chairman in its global banking business. 

Citigroup has reached a $75 million settlement with the U.S. Securities and Exchange Commission for misleading investors about the extent of its holdings in sub-prime mortgage investments. This follows the SEC's investigation into several banking practices during the financial crisis and their record settlement with Wall Street giant Goldman Sachs.

Citigroup announced its earnings this morning, ending a three-quarter profit streak with a $7.6 billion loss during the final three months of 2009. This as consumers still struggled to repay loans and the bank managed to repay its government bailout money.