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Old May 22nd 20, 11:57 PM posted to rec.boats
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Default I know this annoys some...

....here but earlier today The Donald gave himself a power he absolutely
does not have. He must think himself a latter day King Henry VIII. To wit:

Donald Trump has declared churches, mosques and synagogues “essential
services” and threatened to override governors who refuse to reopen them
this weekend.

“Some governors have deemed liquor stores and abortion clinics as
essential, but have left out churches and other houses of worship,”
Trump told reporters at the White House on Friday. “It’s not right. So
I’m correcting this injustice and calling houses of worship essential.”

Trump added: “The governors need to do the right thing and allow these
very important essential places of faith to open right now. For this
weekend. If they don’t do it, I will override the governors. In America
we need more prayer, not less.”

Trump has *no* power to override governors on such an issue and force
them to allow churches to reopen. I've posted often that Trump has never
read the Constitution and has no understanding of Constitutional issues.
This idiocy of his is just the latest example.



--
MAGA - Manipulating America's Gullible Assholes

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Old May 23rd 20, 12:33 AM posted to rec.boats
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Default I know this annoys some...

On Fri, 22 May 2020 18:57:04 -0400, Keyser Soze
wrote:

...here but earlier today The Donald gave himself a power he absolutely
does not have. He must think himself a latter day King Henry VIII. To wit:

Donald Trump has declared churches, mosques and synagogues “essential
services” and threatened to override governors who refuse to reopen them
this weekend.

“Some governors have deemed liquor stores and abortion clinics as
essential, but have left out churches and other houses of worship,”
Trump told reporters at the White House on Friday. “It’s not right. So
I’m correcting this injustice and calling houses of worship essential.”

Trump added: “The governors need to do the right thing and allow these
very important essential places of faith to open right now. For this
weekend. If they don’t do it, I will override the governors. In America
we need more prayer, not less.”

Trump has *no* power to override governors on such an issue and force
them to allow churches to reopen. I've posted often that Trump has never
read the Constitution and has no understanding of Constitutional issues.
This idiocy of his is just the latest example.


I agree 100% but when he wasn't telling the governors what to do you
called it lack of leadership. There is no making you happy.
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Old May 23rd 20, 07:49 PM posted to rec.boats
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Default I know this annoys some...

On Sat, 23 May 2020 13:17:24 -0400 (EDT), Justan Ohlphart
wrote:

Try as he might, Fat Harry can't make the America hater look
respectable. HARRY SHOULD WORK AT IMPROVING HIS OWN IMAGE.
Although it might be too late. Thank god self respecting humans
don't come across too many the likes of him in their lifetimes.


===

Not as rare as you might think unfortunately. From a lifetime of
working in the financial services business I can tell you that there
are hundreds of thousands trying to scam banks and other financial
organizations every day. Many millions are spent on fraud detection
and control systems. Where ever there is money to be found there are
scam artists trying to take it. It's a lot safer than passing a note
through the teller window or trying to break into the vault. 'Airree
is just the tip of the iceberg that we happen to see.

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Old May 23rd 20, 11:19 PM posted to rec.boats
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Default I know this annoys some...

On Saturday, May 23, 2020 at 2:49:09 PM UTC-4, wrote:
On Sat, 23 May 2020 13:17:24 -0400 (EDT), Justan Ohlphart
wrote:

Try as he might, Fat Harry can't make the America hater look
respectable. HARRY SHOULD WORK AT IMPROVING HIS OWN IMAGE.
Although it might be too late. Thank god self respecting humans
don't come across too many the likes of him in their lifetimes.


===

Not as rare as you might think unfortunately. From a lifetime of
working in the financial services business I can tell you that there
are hundreds of thousands trying to scam banks and other financial
organizations every day. Many millions are spent on fraud detection
and control systems. Where ever there is money to be found there are
scam artists trying to take it. It's a lot safer than passing a note
through the teller window or trying to break into the vault. 'Airree
is just the tip of the iceberg that we happen to see.


'Airree is a failure at his scam attempts. He's failed at every one of them, and couldn't even scam Mariner Finance, his latest attempt.

Too funny.
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Old May 24th 20, 07:17 PM posted to rec.boats
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Default I know this annoys some...

Keyser Soze wrote:
On 5/23/20 2:49 PM, wrote:
On Sat, 23 May 2020 13:17:24 -0400 (EDT), Justan Ohlphart
wrote:

Try as he might, Fat Harry can't make the America hater look
respectable. HARRY SHOULD WORK AT IMPROVING HIS OWN IMAGE.
Although it might be too late. Thank god self respecting humans
don't come across too many the likes of him in their lifetimes.


===

Not as rare as you might think unfortunately. From a lifetime of
working in the financial services business I can tell you that there
are hundreds of thousands trying to scam banks and other financial
organizations every day. Many millions are spent on fraud detection
and control systems. Where ever there is money to be found there are
scam artists trying to take it. It's a lot safer than passing a note
through the teller window or trying to break into the vault. 'Airree
is just the tip of the iceberg that we happen to see.


How many hundreds of millions -billions- of dollars has your former
employer been fined over the years, including some of the years you
worked there, for illegal activities and fraud? I recall reading a fine
last year against Citibank for about $350 million. Criminally
irresponsible banksters, all of them, including their employees.

MAGA - Manipulating America's Gullible Assholes


So, stealing is okay for you, but not for banksters?

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Old May 24th 20, 07:32 PM posted to rec.boats
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Default I know this annoys some...

On Sun, 24 May 2020 13:29:22 -0400, Keyser Soze
wrote:

On 5/23/20 2:49 PM, wrote:
On Sat, 23 May 2020 13:17:24 -0400 (EDT), Justan Ohlphart
wrote:

Try as he might, Fat Harry can't make the America hater look
respectable. HARRY SHOULD WORK AT IMPROVING HIS OWN IMAGE.
Although it might be too late. Thank god self respecting humans
don't come across too many the likes of him in their lifetimes.


===

Not as rare as you might think unfortunately. From a lifetime of
working in the financial services business I can tell you that there
are hundreds of thousands trying to scam banks and other financial
organizations every day. Many millions are spent on fraud detection
and control systems. Where ever there is money to be found there are
scam artists trying to take it. It's a lot safer than passing a note
through the teller window or trying to break into the vault. 'Airree
is just the tip of the iceberg that we happen to see.


How many hundreds of millions -billions- of dollars has your former
employer been fined over the years, including some of the years you
worked there, for illegal activities and fraud? I recall reading a fine
last year against Citibank for about $350 million. Criminally
irresponsible banksters, all of them, including their employees.


===

Cite?

Any global organization of over 300,000 employees will have a few bad
apples at any given time.

Is that the justification for your scams?

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Old May 24th 20, 07:41 PM posted to rec.boats
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First recorded activity by BoatBanter: Dec 2015
Posts: 10,422
Default I know this annoys some...

On 5/24/20 2:32 PM, wrote:
On Sun, 24 May 2020 13:29:22 -0400, Keyser Soze
wrote:

On 5/23/20 2:49 PM,
wrote:
On Sat, 23 May 2020 13:17:24 -0400 (EDT), Justan Ohlphart
wrote:

Try as he might, Fat Harry can't make the America hater look
respectable. HARRY SHOULD WORK AT IMPROVING HIS OWN IMAGE.
Although it might be too late. Thank god self respecting humans
don't come across too many the likes of him in their lifetimes.


===

Not as rare as you might think unfortunately. From a lifetime of
working in the financial services business I can tell you that there
are hundreds of thousands trying to scam banks and other financial
organizations every day. Many millions are spent on fraud detection
and control systems. Where ever there is money to be found there are
scam artists trying to take it. It's a lot safer than passing a note
through the teller window or trying to break into the vault. 'Airree
is just the tip of the iceberg that we happen to see.


How many hundreds of millions -billions- of dollars has your former
employer been fined over the years, including some of the years you
worked there, for illegal activities and fraud? I recall reading a fine
last year against Citibank for about $350 million. Criminally
irresponsible banksters, all of them, including their employees.


===

Cite?


Here you go, bankster...you can easily find URLs...

Citigroup was hit hardest with a 310.8 million-euro ($348 million) penalty

Citigroup slammed with record $57 million fine for inaccurate reporting.
Citigroup was fined £44 million, or $57 million, by the Bank of
England's Prudential Regulation Authority.

The Office of the Comptroller of the Currency (OCC) today announced a
$17998510 civil money penalty against Citibank, N.A, of Sioux Falls,
South Dakota,

Citibank was fined $30 million by federal banking regulators after an
investigation found that the bank was not selling foreclosed homes back
into the market fast enough.

Citibank is being fined nearly $18 million over flood insurance
violations dating back to 2014, the Office of the Comptroller of the
Currency ...


Plenty more, and this gem:


Home
Guide to Corporate Research
Violation Tracker
Corporate Rap Sheets
Dirt Diggers Digest

Citigroup: Corporate Rap Sheet
Citigroup

By Philip Mattera

The financial octopus known as Citigroup is the result of the marriage
of one of the country’s oldest and most powerful commercial banks
(Citibank) and a conglomerate (Travelers Group) created by Sanford Weill
to promote and exploit the weakening of federal rules governing the
financial sector. During the 2008 credit crisis, a struggling Citigroup
had to be bailed out by the federal government, which ignored calls for
its breakup and aside from some multi-million-dollar regulatory
settlements did little to curb its aggressive practices. In 2015 it
pleaded guilty to a criminal charge of currency market manipulation but
was allowed to continue business as usual.



Standard Oil Roots

Citibank, whose roots went back to the early 19th century, later
developed close ties to the Rockefeller interests and became the prime
bank of the Standard Oil empire. By the early 20th century, what was
still called National City Bank was testing the limits of federal bank
regulations. Using a holding company, it began to acquire control of
other banks around the country—until an uproar over this creation of a
“money trust” caused it to abandon the plan. Taking advantage of the
1927 McFadden Act, which allowed national banks to open branches in
their home town, National City later began building an extensive retail
banking presence in New York City.

During the 1970s, Citi and the other big banks based in the New York
City pressured the municipal government to adopt harsh austerity
policies to deal with a fiscal crisis. The banks had helped bring about
that crisis by dumping their holdings of the city’s securities and
refusing to underwrite new issues. Citibank was singled out in this
regard: in 1975 municipal unions organized the withdrawal of more than
$14 million in institutional deposits from the bank. Undeterred, Citi
and the other banks supported the creation of undemocratic bodies such
as the Municipal Assistance Corporation and the Emergency Financial
Control Board to protect their interests. Citibank also made life more
difficult for New Yorkers by raising interest rates on consumer loans to
more than 13 percent. In 1981 Citi paid $500,000 to settle usury charges
brought by the New York State attorney general.

In the 1970s Citibank was also an aggressive proponent of using the vast
new deposits coming in from oil-producing countries to lend aggressively
to “underdeveloped” nations. This recycling of petrodollars created
unsustainable levels of debt for much of the third world, which later
came back to haunt Citibank and other Western institutions. In 1987
Citibank had to add $3 billion to its loan loss reserves to deal with
these bad loans. Even so, the third world debt problem kept Citi
unstable to the point that there was speculation it might file for
bankruptcy or enter into a merger to prop up its weak balance sheet. In
1991 Citi got a $590 million capital infusion from Saudi Prince
Al-Waleed bin Talal and another $600 million from the sale of preferred
stock to a group of several dozen institutional investors. An August 20,
1991 article in Financial World entitled “Too Big to Fail” described
Citi as “a deeply troubled institution.”

Until it changed its policy in 1978, Citi was the largest U.S. lender to
the apartheid government of South Africa. Yet it continued to provide
extensive loans to the South African private sector, defying calls for
divestment. This was a key reason Citi was one of the companies targeted
by a group called Americans Concerned About Corporate Power. In 1981 the
group, founded by Ralph Nader and other public interest activists,
launched Citiwatch to monitor the bank’s practices with regard to
employee rights, community reinvestment, pension investments and loans
to repressive governments.

In 1982 the U.S. Securities and Exchange Commission overruled its staff
and closed a three-year investigation of Citibank’s foreign currency
transactions without pressing charges. It later came to light that one
of the SEC commissioners who made that decision had previously
represented the bank while working for a prominent law firm that had
long represented Citi. An investigation by a House of Representatives
subcommittee presented evidence of extensive violations of banking laws
and tax evasion by Citibank’s foreign subsidiaries.

Citibank took advantage of the savings & loan crisis of the 1980s to
acquire failing thrifts such as Fidelity Savings of San Francisco and
thus lay the foundation of interstate banking. As Citi moved into more
states, it also became the target of more criticism. A 1990 report by
Citizen Action alleged that Citi’s home mortgage computer system was
overcharging home buyers in 14 states. A 1992 report by the Comptroller
of the Currency found that Citi’s home mortgage business engaged in
sloppy practices that exposed the company to excessive risk while also
overcharging many customers.



The Creation of Citigroup

Citibank’s struggle to survive on its own came to an end in 1998, when
it agreed to the merger with Travelers, which Sandy Weill had fashioned
out of his takeover of the insurance company by that name as well as the
investment houses Shearson and Salomon Brothers. (The latter had paid
$290 million to settle charges that it submitted fraudulent bids in
Treasury Department auctions of federal securities to circumvent limits
on the portion of those issues that a single firm was allowed to purchase.)

The $70 billion merger flew in the face of federal rules barring the
combination of commercial banking and either insurance or investment
banking. Yet Weill and Citibank CEO John Reed correctly bet that federal
regulators would find the deal too big to block. Citigroup thus came
into being.

One of Citigroup’s first big challenges was to deal with accusations
that Citibank had assisted in laundering nearly $100 million in payoffs
received from drug traffickers by Raul Salinas de Gortari, the brother
of Mexico’s president. A report by the U.S. General Accounting Office
found that Citibank violated its own policies in the matter, turning a
blind eye to suspicious transactions. In 1999 testimony to a
Congressional committee, Reed admitted that Citibank had been slow to
correct years of weak controls on wealthy customers. Another GAO report
in 2000 found that Citi had failed to follow federal guidelines to
prevent money laundering and had allowed up to $800 million in
suspicious Russian funds to pass through 136 accounts. And in further
Congressional testimony in 2001, Citi officials admitted serious
deficiencies in dealing with two offshore Caribbean banks implicated in
another money laundering scandal.

Citigroup had troubles at home as well. In 2000 Citibank had to pay $45
million to settle lawsuits alleging that it imposed excessive late fees
on credit card customers. That same year, Citigroup announced that it
would spend $31 billion to purchase the largest U.S. consumer finance
company Associates First Capital, which was already the subject of
controversy over predatory lending. Facing pressure from community
activists, Citi claimed that it would revamp the business to avoid
abusive practices. It nonetheless was targeted by activists groups such
as National People’s Action. And in 2001 the Federal Trade Commission
sued Citi and Associates for abusive lending practices. (The following
year the FTC announced that Citi would pay a record $215 million to
settle the charges.)

In 2002 Citi became embroiled in the biggest corporate scandal of the
day when it was accused of helping Enron conceal its precarious
financial condition by disguising debt as trading transactions. In 2003
Citi agreed to pay $101 million to settle SEC charges relating to the
Enron fraud, plus another $19 million relating to manipulation of
financial statements by another company called Dynegy. In 2005 Citi
agreed to pay $2 billion to settle lawsuits brought by Enron investors.

In the early 2000s, star analyst Jack Grubman of Citi’s Salomon Smith
Barney unit was at the center of a conflict of interest controversy. In
2003 Salomon Smith Barney agreed to pay $400 million in penalties and
disgorgement as its share of a settlement with regulators on the
conflict of interest issue.

Citi was also implicated in the WorldCom accounting scandal, and in 2004
it agreed to pay $2.65 billion to settle lawsuits brought by WorldCom
investors alleging that Citi failed to perform due diligence when
underwriting the company’s bonds. That same year, Citi agreed to pay $70
million to settle Federal Reserve allegations of abuses in its consumer
lending operations. Also in 2004, Citi was fined three times by
financial industry regulator NASD: $250,000 for failing to comply with
discovery obligations in arbitration cases; another $250,000 for
distributing misleading hedge fund sales literature; and $275,000 for
various violations relating to a futures fund. During this same period,
Japanese regulators shut down Citi’s private banking operations because
of serious rule violations.

In 2005 the SEC announced that Citi would pay a civil penalty of $20
million for failing to provide customers material information related to
their purchases of mutual fund shares. Two months later, the commission
said Citi would pay $208 million to settle additional charges relating
to mutual fund sales. That same year, Britain's Financial Services
Authority fined a Citi unit £13.9 million for violations of bond trading
regulations.

In 2006 NASD fined Citi $225,000 for deficient disclosures in analyst
reports and $1.1 million for failing to prevent its brokers from falsely
claiming that their customers were disabled to improperly obtain waivers
of mutual fund sales charges. In 2007 NASD announced that Citi would pay
$15 million to settle charges relating to the use of misleading
materials in retirement seminars for BellSouth employees. In 2008 FINRA
(the successor to NASD) fined Citi $300,000 for failing to properly
supervise the commissions its brokers charged on stock and option
trades, while the SEC announced that Citi would restore about $7 billion
in liquidity to customers who had invested in auction rate securities
and were allegedly misled about their risk. Also that year, Citi agreed
to pay $18 million to settle charges brought by the California attorney
general concerning the practice of using computerized “sweeps” to remove
balances from credit card accounts that were in “recovery” status.



Meltdown and Bailout

When the financial crisis erupted in 2008, Citi was seen as one of the
most vulnerable of the big institutions. As a New York Times
investigation found, the bank had been particularly reckless in loading
up on the subprime mortgage-related securities that were now deemed
toxic. Citi was slated to receive an infusion of $25 billion from the
Troubled Assets Relief Program (TARP), but its condition turned out to
be so precarious that in November 2008 the federal government announced
that it would protect Citi against potential losses on its $306 billion
pool of toxic assets and provide an additional $20 billion infusion.

As Washington Post columnist Steven Pearlstein pointed out, “Of all the
rescues mounted by the government this year, none carries with it more
symbolism, or more irony, than that of Citigroup,” which of course had
done so much to break down federal restrictions on the financial sector.

For a while, it looked like Citi might be broken up. Under pressure from
the federal government, it spun off its Smith Barney retail brokerage
business into a joint venture with Morgan Stanley. There was even
speculation in the business press that Citi might be nationalized. A
full takeover did not occur, but in February 2009 the fed government
said it would increase its stake in Citi to 36 percent.

Despite being a ward of the state, Citi continued to get hit with
regulatory sanctions. In March 2008 FINRA fined it $2 million for
transaction reporting violations and then $175,000 for a failure to
properly supervise communications with customers during the initial
public offering of Vonage as well as $600,000 for deficiencies related
to the supervision of complex trading strategies. The U.S. Commodities
Futures Trading Commission announced in October 2009 that Citi would pay
$100,000 to settle reporting violations.

FINRA imposed more fines in 2010, including $650,000 for disclosure and
supervisory violations relating to Citi’s Direct Borrow Program and $1.5
million for supervisory violations relating to a broker who
misappropriated over $60 million from cemetery trust funds. That year,
the SEC announced that Citi would pay a $75 million penalty to settle
allegations that it misled investors about its exposure to subprime
mortgage-related assets. Also charged were the company’s former chief
financial officer and its former head of investor relations.

In December 2009 Citi worked out a deal to repay its federal aid, but it
negotiated terms that allowed it to enjoy huge tax savings in the
process. A year later, the federal government completed its selloff off
its Citi shares, claiming that it enjoyed a profit of $12 billion on the
transactions.

More violations emerged in 2011. FINRA fined Citi $500,000 for failing
to supervise a sales assistant who misappropriated more than $700,000 in
customer funds. The Federal Housing Finance Agency sued Citi and other
firms for abuses in the sale of mortgage-backed securities to Fannie Mae
and Freddie Mac. Then the SEC announced that Citi would pay $285 million
to settle charges that it defrauded investors in a $1 billion
collateralized debt obligation tied to the U.S. housing market. Citi had
taken a proprietary short position against those assets without telling
the investors.

The settlement amount in the SEC case, which was far below the $700
million in losses suffered by the defrauded investors, was roundly
criticized by the federal judge, Jed Rakoff, who was overseeing the
case. Judge Rakoff also challenged the SEC’s willingness to let Citi get
off without admitting guilt in the matter, calling the deal “neither
reasonable, nor fair, nor adequate, nor in the public interest.” He
rejected the settlement, but the SEC filed an appeal, which is not yet
fully resolved.

Citi was one of five large mortgage servicers that in February 2012
consented to a $25 billion settlement with the federal government and
state attorneys general to resolve allegations of loan servicing and
foreclosure abuses. That same month, U.S. attorney’s office in Manhattan
announced that Citi would pay $158 million to settle charges that its
mortgage unit fraudulently misled the federal government into insuring
thousands of risky home loans. In August 2012 Citi agreed to pay $590
million to settle lawsuits charging that it deceived investors by
concealing the extent of its exposure to toxic subprime debt.

During 2012 there were also more FINRA fines: $600,000 for charging
excessive markups and markdowns on bond transactions; $2 million for
supervisory violations relating to exchange-traded funds; $3.5 million
for providing inaccurate performance data related to subprime
securitizations; and $888,000 for using municipal bond proceeds to pay
for lobbyists. The CFTC announced Citi would pay $525,000 to settle
charges that it had exceeded limits on speculative positions in wheat
futures. In January 2013 Citi was one of ten major lenders that agreed
to pay a total of $8.5 billion to resolve claims of foreclosure abuses.

Citi CEO Vikram Pandit paid a price for the bank’s transgressions. In
April 2012 Citi shareholders rejected a board-approved plan to hike his
annual pay to $14.9 million, and the following October he was ousted
from his post.

In March 2013 Citi agreed to pay $730 million to settle a lawsuit
brought by institutional investors charging that they were misled by the
bank concerning risks associated with several offerings of Citi
preferred stock and bonds between 2006 and 2008.

That same month, the Federal Reserve brought an enforcement action
against Citi for having inadequate money-laundering controls.

In July 2013 Citi agreed to pay $968 million to Fannie Mae to settle
claims that it misrepresented the quality of home loans sold to the agency.

In October 2013 Freddie Mac announced that Citi would pay $395 million
to repurchase home loans the bank had sold to the mortgage agency that
did not conform to the latter's guidelines.

In December 2013 Citi was fined $95 million by the European Commission
for its role in the illegal manipulation of the LIBOR interest rate
benchmarks by major U.S. and European banks.

In March 2014 it came to light that Citi's Mexican affiliate Banamex was
being investigated by U.S. prosecutors in connection with possible money
laundering charges. (In May 2017 Banamex agreed to pay $97 million and
enter into a non-prosecution agreement to resolve the money laundering
charges.)

That same month, the Federal Reserve rejected Citi's plan for
solidifying its capital position and increasing its shareholder dividend.

In April 2014 Citigroup agreed to pay $1.13 billion to settle claims by
institutional investors which had demanded that it buy back residential
mortgage-backed securities sold during the run-up to the financial meltdown.

In July 2014 the U.S. Justice Department announced that Citigroup would
pay $7 billion to settle charges relating to the packaging and sale of
toxic mortgage-backed securities in the period leading up to the
financial meltdown.

In November 2014 Citigroup was fined $310 million by the U.S Commodity
Futures Trading Commission and $358 million by Britain's Financial
Conduct Authority as part of a settlement of charges that it and other
major banks manipulated the foreign exchange market.

That same month, FINRA fined Citigroup Global Markets $15 million for
failing to adequately supervise communications between its stock
analysts and clients. A few weeks later, FINRA fined the company another
$5 million as part of a case against ten investment banks for allowing
their analysts to solicit business and offer favorable research coverage
in connection with a planned initial public offering of Toys R Us in 2010.

In May 2015 the Justice Department announced that Citibank was one of a
group of banks pleading guilty to criminal charges of conspiring to fix
foreign currency rates. Citi was fined $925 million (and another $342
million by the Federal Reserve) and put on probation for three years.
The SEC gave it a waiver from a rule that would have barred it from
remaining in the securities business.

In July 2015 the Consumer Financial Protection Bureau announced that
Citi would to pay about $700 million to customers to settle allegations
that it misled them into purchasing unnecessary add-on products for
their credit cards. The following February the CFPB ordered Citi to pay
a penalty of $3 million and provide nearly $5 million in consumer relief
for selling credit card debt with inflated interest rates and for
failing to forward consumer payments promptly to debt buyers.

In May 2016 the Commodity Futures Trading Commission ordered three Citi
subsidiaries to pay a $175 million penalty to resolve allegations that
they manipulated interest rate benchmarks.

In January 2017 the CFTC filed and settled (for $25 million) allegations
that Citigroup Global Markets engaged in the illicit practice of
spoofing — bidding or offering with the intent to cancel the bid or
offer before execution — in U.S. Treasury futures markets and that it
failed to diligently supervise the activities of its employees and
agents in conjunction with the spoofing orders.

That same month, the SEC announced that Citigroup Global Markets would
pay $18.3 million to settle allegations that it overcharged at least
60,000 investment advisory clients with unauthorized fees. In a separate
SEC case, Citi had to pay $2.96 million to settle allegations that it
misled investors about a foreign exchange trading program.

Also in January 2017, the Consumer Financial Protection Bureau fined two
Citi subsidiaries $28.8 million for keeping borrowers in the dark about
options to avoid foreclosure and burdening them with excessive paperwork
demands when they applied for foreclosure relief.

In June 2018 the CFPB ordered Citi to pay $335 million in restitution to
1.75 million credit card customers for failing to properly adjust their
interest rates.



Employment Issues

In 2001 Citi’s Salomon Smith Barney unit agreed to pay $635,000 to the
U.S. Equal Employment Opportunity Commission to settle charges that it
discriminated against certain employees of a data center based on race
and/or national origin. In 2008 Smith Barney agreed to pay $33 million
to about 2,500 current and former female brokers to settle a
class-action gender discrimination suit. In 2010 a group of current and
former female employees in Citi’s municipal securities division sued the
company, accusing it of being an “outdated boys club” in which “women
are denied equal terms and conditions of employment. The case is pending.

In 2009 a Citigroup retail industry analyst participated in a U.S.
Chamber of Commerce-sponsored conference call designed to build
opposition to the Employee Free Choice Act legislation that would have
made it easier for labor unions to organize.



Environment

In the early 2000s Rainforest Action Network targeted Citi for its role
in financing projects—such as the Gobe oil fields in Papua New Guinea
and the OCP pipeline in Ecuador—that contributed to the destruction of
old-growth forests, displaced local communities, and accelerated global
warming. In 2003 RAN suspended its campaign after Citi agreed to reform
its environmental practices. But several years later RAN resumed
criticizing Citi for helping to finance coal-mining firms and utility
companies using coal-fired power plants.
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Old May 25th 20, 04:01 AM posted to rec.boats
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Default I know this annoys some...

Keyser Soze Wrote in message:
On 5/23/20 2:49 PM, wrote: On Sat, 23 May 2020 13:17:24 -0400 (EDT), Justan Ohlphart wrote: Try as he might, Fat Harry can't make the America hater look respectable. HARRY SHOULD WORK AT IMPROVING HIS OWN IMAGE. Although it might be too late. Thank god self respecting humans don't come across too many the likes of him in their lifetimes. === Not as rare as you might think unfortunately. From a lifetime of working in the financial services business I can tell you that there are hundreds of thousands trying to scam banks and other financial organizations every day. Many millions are spent on fraud detection and control systems. Where ever there is money to be found there are scam artists trying to take it. It's a lot safer than passing a note through the teller window or trying to break into the vault. 'Airree is just the tip of the iceberg that we happen to see. How many hundreds of millions -billions- of dollars has your former employer been fined over the years, including some of the years you worked there, for illegal activities and fraud? I recall reading a fine last year against Citibank for about $350 million. Criminally irresponsible banksters, all of them, including their employees.MAGA - Manipulating America's Gullible Assholes


You are just a sore loser, and it aint banksters fault it's your
own doing thst ruined you financially. You dumb
****.
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