Financial Business Recap: Citigroup Set For New Inquiry, Credit Suisse To Supply Names

The Office of the Comptroller of the Currency, along with other regulators, are said to be closer to moving against Citigroup Inc. (NYSE:C) for allegedly failing to prevent transactions linked to drug money and sanctioned countries. Other Wall Street banks such as Bank Of America Corporation (NYSE:BAC) are also being investigated, with the Justice Department and the district attorney of Manhattan getting into the act.

Don’t Miss: Regulators Keep SPOTLIGHT Pointed At Big Banks.

Credit Suisse Group AG (NYSE:CS) has agreed to turn over more information to United States authorities so as to resolve a tax investigation. The Swiss bank will release names of employees, but not those of its customers.

Capital One Financial Corporation (NYSE:COF) experienced an increase in delinquencies in August, although charge-offs fell somewhat. The company’s 30-day delinquency rate moved to 3.37 percent from 3.09 percent for domestic credit cards, as charge-offs slipped to 2.58 percent from 2.62 percent.

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