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At Citi, we take our responsibilities to our customers and our communities very seriously. We are strongly committed to responsible finance and we continue to engage in open dialogue with our customers and community stakeholders.
We are helping to fuel the economic recovery in communities across the country through our support for programs that help American families and businesses in need. We are grateful to our non-profit partners for their key role in these efforts.
Together, we are making a difference.
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Thursday, 22 July 2010 00:00 |
A message from Citi Community Development - www.citigroup.com/community.
Bob Annibale, Global Director of Citi Community Development and Citi Microfinance, testified at the Community Reinvestment Act (CRA) Interagency Joint Public Hearing on July 19. The four federal agencies involved with regulating financial institutions* are conducting a series of hearings on potential changes to the CRA and we are pleased to have had the opportunity to provide testimony at the first session, along with a number of esteemed community partners.
Bob participated on a panel entitled "Industry Perspectives." His remarks included the following points:
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<p style="margin: 10px 5px;">A message from Citi Community Development - www.citigroup.com/community</p>
<p style="margin: 10px 5px;">Bob Annibale, Global Director of Citi Community Development and Citi Microfinance, testified at the Community Reinvestment Act (CRA) Interagency Joint Public Hearing on July 19. The four federal agencies involved with regulating financial institutions* are conducting a series of hearings on potential changes to the CRA and we are pleased to have had the opportunity to provide testimony at the first session, along with a number of esteemed community partners.</p>
<p style="margin: 10px 5px;">Bob participated on a panel entitled "Industry Perspectives." His remarks included the following points:</p>
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<li> Partnerships with community-based intermediaries that collaboratively expand access to banking services are essential to the goal of increasing savings among LMI communities and should receive increased consideration and additional weight under the CRA. </li>
<li> </li>
<li> In today's economy, 33 years after the CRA was enacted, its approach does not fully promote the banking needs of LMI customers, which would include access to basic transaction and savings products. </li>
<li> Having a basic transaction or savings account is the first step in creating a sustainable and sound financial foundation for all families and should be a policy objective, especially for significantly unbanked LMI communities. The CRA has a significant role to play in this regard. </li>
<p style="margin: 10px 5px;">Bob's and the other panelists' testimonies are available here.</p>
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Thursday, 17 June 2010 00:00 |
CitiMortgage has announced a three-month foreclosure suspension program for its owned mortgages in coastal areas hard-hit by the oil spill in the Gulf of Mexico. The aim of this program is to allow distressed borrowers to remain in their homes during these uncertain times as the Gulf communities respond to the oil spill and its economic repercussions. Full details can be found in the press release.
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