Citicorp announced Tuesday that Pei-yuan Chia, a vice chairman and
The resignation took effect at the end of August, the bank said.
Mr. Chia, 57, was one
He joined Citicorp in 1974 and had been director since April 1993 and
Richard "Dick" Parsons, the former Citigroup chairman who died Thursday, is credited with helping the New York megabank survive the financial crisis. Earlier in his career, he led Dime Savings Bank out of the savings-and-loan crisis.
A passivity agreement with the FDIC means that when the asset management giant Vanguard owns more than 10% of an FDIC-overseen bank, it can't seek certain levels of control over the bank's behavior.
The Seattle-based company's deal with Bank of America comes five weeks after the termination of its planned sale to FirstSun Capital Bancorp in Denver.
In a collaboration with Coinbase and Flexa, Regal theaters now accept on-chain U.S. digital currency payments for movie tickets and concessions; the Bank of Nova Scotia has completed its second investment in KeyCorp; Fiserv entered into a definitive agreement to acquire Canadian-based payments fintech Payfare; and more in this week's banking news roundup.
The tiny community bank handled hundreds of millions of bulk cash shipments from Mexico without red-flagging any of them, the agency said. The bank has filed a motion to dismiss.
Banking regulators hit companies with penalties for poor interest-rate risk, third-party management, anti-money-laundering controls and consumer protection, among other violations.
