Fed blocks Citigroup from raising dividends

By JOSHUA FREEDMARCY GORDON

Published March 26, 2014 7:26pm ET

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Fed blocks Citigroup from raising dividends — WASHINGTON (AP) — The Federal Reserve on Wednesday barred Citigroup from raising its dividend or boosting its stock buybacks, saying it’s too hard to predict how some parts of the bank’s global operation would fare in a sharp economic downturn. It was a setback for Citigroup Inc., one of the nation’s biggest banks, which has […]

WASHINGTON (AP) — The Federal Reserve on Wednesday barred Citigroup from raising its dividend or boosting its stock buybacks, saying it’s too hard to predict how some parts of the bank’s global operation would fare in a sharp economic downturn.

It was a setback for Citigroup Inc., one of the nation’s biggest banks, which has been cutting jobs and trimming some businesses in an effort to improve its finances.

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