It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
NEW YORK (AP) -- Citigroup Inc., one of the biggest recipients of government bailout funds, is looking to scale back its U.S. retail footprint to just six major metropolitan areas and limit most lending to wealthy customers, according to a published report.
Citi's management is looking to reduce the bank's U.S. consumer lending to mainly credit cards and "jumbo" mortgages, The Wall Street Journal reported Wednesday, citing unnamed people familiar with the situation.
The New York-based bank's executives are expected in October to present plans to the board of directors to pare Citi's retail branch network and concentrate mainly on the New York, Washington, D.C., Miami, Chicago, San Francisco and Los Angeles areas, the paper said.