Benjamin Finestone News Today

Press space or click mouse to continue ...wait, not yet, doh! Share Copy A judge has ruled that Citibank cant claw back more than $500m (£360m) it mistakenly paid out after outsourced staff and a senior manager made a nearly billion-dollar (£700m) user-interface blunder. The error occurred on August 11 last year, when Citibank was supposed to wire $7.8m (£5.6m) in interest payments to lenders who are propping up troubled cosmetics giant Revlon. But a worker at outsourcing mega-org Wi...

In all, Citi accidentally sent US$900 million to Revlons lenders. Citibank filed a lawsuit in August seeking the return of its funds, but it still has not received US$500 million from 10 investment advisory firms after the accidental transfer. An exception to the rule The law usually punishes those who spend money accidentally deposited in their accounts. Accidental transfers are common in the digital age, and wires can be paid back instantly. A Pennsylvania couple faced felony charges after sp...

After committing one of the biggest blunders in banking history, Citibank wont be allowed to recover the almost half a billion dollars it accidentally wired to Revlons lenders, a U.S. District Court judge ruled.

After committing one of the "biggest blunders in banking history," Citibank wont be allowed to recover the almost half a billion dollars it accidentally wired to Revlons lenders, a US District Court judge ruled.

After committing one of the "biggest blunders in banking history," Citibank won't be allowed to recover the almost half a billion dollars it accidentally wired to Revlon's lenders, a US District Court judge ruled.