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Here are Monday’s top stories:
Credit card companies Citigroup Inc. (NYSE:C), Discover Financial Services (NYSE:DFS), and American Express Company (NYSE:AXP) are on the verge of being investigated by regulators, at the time they themselves pursue lawsuits to collect debts. The New York Times reports that robo-signing by the companies, along with erroneous and forged documents, incomplete records, and generic testimony from witnesses are all pertinent to the looming investigations.
Certain Barclays PLC (NYSE:BCS) shareholders are supporting The Royal Bank of Scotland Group’s (NYSE:RBS) Chief Executive Stephen Hester for that position at Barclays, says The Telegraph. Hester is credited with excelling at reducing non-core assets, bad debts, and perhaps more importantly, maintaining a good relationship with regulators, since RBS is more than 80 percent government-owned.
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