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The settlement also includes a number of big card-issuing banks, such as J.
WSJ: Visa, Mastercard Agree to $6 Billion Settlement Over Surcharges
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Bank of America and Wells Fargo are also big card issuers, with reserve loss coverages of 35% and 48%, respectively, below the average level for large banks.
FORBES: Borrowing Trouble
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The naming of American Express' Gary Chittenden as chief financial officer on Sunday didn't give much in the way of clues as to Citi's future direction, though Crittenden did oversee cost-containment programs at the big card issuer and the spinoff of its Ameriprise Financial unit last year.
FORBES: Weill Springs To Citi's Defense