An Indonesian court sentences former Citibank executive Malinda Dee to eight years in prison for stealing more than $4m (£2.5m) from her wealthy clients.

Morning Business Memo The big question for corporate America today is the scathing rebuke for Citigroup over executive pay: is it just a one-time thing or the start of a trend? Shareholders said no to CEO Vikram Pandit’s $15 million pay package. “This vote is...

Citibank customers who used an iPad app to pay their bills were charged twice, some without their knowledge, the bank said this week. The problem began in July and went undetected until December, the New York Times reported. Andrew Brent, Citigroup spokesman, said the now-fixed problem impacted less than 2 percent of all transactions executed through the iPad.

A law school graduate is suing his student loan lenders saying they were in a "scheme" to collect additional interest from student loan borrowers. Justin Kuehn, 29, a graduate of George Washington University Law School, is accusing Citibank, Discover and the Student Loan Corporation of "deceiving" borrowers into believing that their monthly payments had been reduced because of an interest rate reduction when the payment toward the principal had just been lowered.