Word: citibankers
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...literally) crumbling empire of 16 museums and galleries, 142 million artifacts--ranging from the Wright brothers' biplane to Nancy Reagan's silk-satin Inaugural gown--nine research centers and the National Zoo. Unlike his predecessors, however, Small is neither a scientist nor an academic. He spent 27 years at Citibank, and his last job was COO of Fannie Mae. He plays flamenco guitar and owns a world-class collection of Amazonian art, but he got the job because he knows how to raise money and crunch numbers. His mission was to put the world's largest museum complex...
...July, Citigroup, whose Citibank is the largest issuer, said it would settle a class action accusing two Citi-owned banks of declaring many payments late and assessing late charges even if they were received on the due date. The bank pleaded innocent, but to avoid litigation, it is shelling out a $45 million settlement, $18 million of which will go to cardholders who file claims...
That direction led to UrbanAmerica, the first real estate investment company to focus on distressed urban areas, a market sinfully ignored by most moneymen. Founded by McCoy in 1998, with backing by New York's Utendahl Capital Partners, the new company persuaded major banks like J.P. Morgan and Citibank to sign on as limited partners. "Demonstrating to them that they could invest institutional money in ethnic markets, receive a nice return and do some good along the way--that was a challenge," says McCoy. It helped that he was offering not only a profitable opportunity but also...
...CHECKING Looking to open a new checking account? Forget the local Citibank; the best deals are online. Thanks to lower overhead costs, online banks are clamoring for customers. They offer better rates, lower minimum balances and rock-bottom service fees. The bonus: most will reimburse a portion of monthly ATM withdrawal fees...
...Citibank's Cohen says that of all the credit card solicitations that Citibank sends out to college students, less than 1percent engender any sort of response--and only half of the students who respond actually sign up for a credit card...