WHY CITIGROUP CEO VIKRAM PANDIT TESTIFIED: The Congressional Oversight Panel for the $700 billion financial bailout held a public hearing on Citi's generous, multistep bailouts. The government eventually committed more than $45 billion. PANDIT'S POINTS: Echoing Obama administration positions justifying the Wall Street rescue ...

WASHINGTON (Reuters) - Citigroup Inc <C.N> Chief Executive Vikram Pandit on Thursday voiced support for key Obama administration financial reform goals, including a consumer protection authority, but government watchdogs questioned his earnestness. In testimony to a panel that helps police government bailout efforts, Pandit advocated a watered-down version of a consumer protection agency proposed by Obama and said ...

U.S. regulators fended off complaints Friday from lawmakers and small business owners that overly strict rules for banks have prevented crucial credit from flowing to where it is needed most. U.S. bank lending last year posted the steepest drop since World War II, with the volume ...