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FILE - In this Thursday, March 16, 2017, file photo, a customer enters a Citibank branch, in New York. On Wednesday, June 28, 2017, the Federal Reserve gave the green light to all 34 of the biggest banks in the U.S. to raise their dividends and buy back shares, judging their financial foundations sturdy enough to withstand a major economic downturn. Those allowed to raise dividends or repurchase shares include the four biggest U.S. banks: JPMorgan Chase, Bank of America, Citigroup and Wells Fargo. (AP Photo/Mark Lennihan, File)

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FILE - In this Jan. 15, 2015, file photo, a Citibank sign hangs above a branch office in New York. Banking executives and consultants who normally focus on checking accounts and credit cards spent a recent conference talking about “cross-selling” and “incentive compensation.” Those are code words for Wells Fargo, and the up to 2 million accounts that its employees opened without customer permission as they sought to meet unrealistic sales goals. Citigroup officials say they've looked at their bank's sales behavior and have found nothing amiss. (AP Photo/Mark Lennihan, File)

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FILE - In this June 25, 2005, file photo, Russian President Vladimir Putin, second right, holds the diamond-encrusted 2005 Super Bowl ring belonging to New England Patriots owner Robert Kraft, left , as News Corp. Chairman Rupert Murdoch, second left, and Citigroup Chairman Sanford Weill look on during a meeting of American business executives at the 18th century Konstantin Palace outside St. Petersburg, Russia. Kraft won his fifth Super Bowl ring on Feb. 5, 2017, but his third ring remains with Putin. (AP Photo/Alexander Zemlianichenko, File)

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Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, who was named interim CEO of the Los Angeles Clippers by the NBA league, takes questions during a news conference at the Staples Center in Los Angeles Monday, May 12, 2014. (AP Photo)

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Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, who was named interim CEO of the Los Angeles Clippers by the NBA, takes questions during a news conference at the Staples Center in Los Angeles Monday, May 12, 2014. (AP Photo)

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Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, who was named interim CEO of the Los Angeles Clippers by the NBA league, takes questions during a news conference at the Staples Center in Los Angeles Monday, May 12, 2014. (AP Photo)

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FILE - In this May 10, 2011, file photo, Dick Parsons, chairman of Citigroup, participates in a discussion at the Hooven Dayton Corp. facility in Dayton, in Dayton, Ohio. The NBA has chosen Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, as interim CEO of the Los Angeles Clippers, the league announcement Friday, May 9, 2014. (AP Photo/Al Behrman, File)

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Citigroup logo (AP Photo/Mark Lennihan)

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Citigroup logo (AP Photo/Mark Lennihan)

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Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi’s workforce of 262,000. The bulk of the cuts will come from the consumer banking unit. (Associated Press)