Citigroup Reports Financial Results
Citigroup reported third quarter financial results this morning - including reporting a revenue decline of 2% in its US credit card business that it attributed to lower securitization results. Citi reported its average managed loans for its card business were flat on a 6% increase in purchase sales. Eric Dash reports for the New York Times about the bank's situation with respect to its US consumer business - including concerns "that Citigroup has woefully underinvested in its computer systems for years."
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