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77-525: Citibank, N.A. ("N. A." stands for " National Association "; stylized as citi bank) is the primary U.S. banking subsidiary of Citigroup , a financial services multinational corporation. Citibank was founded in 1812 as City Bank of New York , and later became First National City Bank of New York . The bank has branches in 19 countries. The U.S. branches are concentrated in six metropolitan areas, New York City , Chicago , Los Angeles , San Francisco , Washington, D.C. , and Miami . As of 2023, Citibank

154-627: A bank teller . John S. Reed was selected CEO in 1984, and Citi became a founding member of the CHAPS clearing house in London. Under his leadership, the next 14 years would see Citibank become the largest bank in the U.S., the largest issuer of credit cards and charge cards in the world, and expand its global reach to over 90 countries. As the bank's expansion continued, the Narre Warren-Caroline Springs credit card company

231-539: A roman à clef entitled A Wreath for Udomo (1956), which contained unflattering portrayals of the members of this London political community. George Padmore was identified by many as the model for the character "Tom Lanwood". But Padmore's alliance with Nkrumah held firm. From the time of Nkrumah's return to the Gold Coast in 1947 to lead its independence movement, Padmore advised him in long detailed letters. He also wrote dozens of articles for Nkrumah's newspaper,

308-573: A further $ 20 billion was invested in the company along with guarantees for risky assets of $ 306 billion. The guarantees were issued at a time markets were not confident Citi had enough liquidity to cover losses from those investments. Eventually, the Citi shares the Treasury took over in return for the guarantees it issued were booked as net profit for the treasury as Citi had enough liquidity and guarantees did not have to be used. By 2010, Citibank had repaid

385-826: A position he held until 1933. Under Mitchell, the bank expanded rapidly and by 1930 had 100 branches in 23 countries outside the United States. The policies pursued by the bank under Mitchell's leadership are seen by many people as one of the prime causes of the stock market crash of 1929, which led ultimately to the Great Depression . In 1933, the Pecora Commission , a United States Senate committee, investigated Mitchell for his part in tens of millions of dollars in losses, excessive pay, and tax avoidance, later leading to his resignation. U.S. Senator Carter Glass said of him, "Mitchell, more than any 50 men,

462-618: A reporter with the Trinidad Publishing Company. In late 1924, he travelled to the United States to take up medical studies at Fisk University , a historically black college in Tennessee . He had recently married, on 10 September that year, and his wife Julia Semper would later join him in America. She left behind their daughter Blyden, who was born in 1925 (and died in 2012). According to Nurse's instruction, she

539-603: A student from the Gold Coast who studied at Lincoln University in Pennsylvania . James gave Nkrumah a letter of introduction to Padmore. When Nkrumah arrived in London in May 1945 intending to study law, Padmore met him at the station. It was the start of a long alliance. Padmore was then organizing the 1945 Manchester Pan-African Congress (designated the Fifth Pan-African Congress), attended not only by

616-564: A turnout as that caused by the death of Padmore. Peasants from far-flung regions who, one might think, had never even heard his name, managed to find their way to Accra to pay a final tribute to the West Indian who spent his life in their service. Staying on in Accra, Dorothy Pizer wrote a preface for a French edition of Padmore's Pan-Africanism or Communism . She began research for a biography of Padmore. However, as she told Nancy Cunard, she

693-419: Is a required part of the distinguishing legal title of a national bank, as in "Farmers National Bank" or " Citibank , N.A." Many state banks , by contrast, are chartered by the applicable state government agencies (usually the state's department of banking). The Federal Deposit Insurance Corporation (FDIC) insures deposits at both national and state banks. The advantage of holding a National Bank Act charter

770-469: Is home to the majority of Citibank's US branches, with 292 branches located in the state.' Citi announced it may return its retail banking presence to Dallas in 2022. Citibank will take more than 9,000 square feet of space in the Berkshire Court building at Preston and Northwest Highway. Construction is scheduled to start on the new office early next year, according to planning documents filed with

847-460: Is no current maximum interest rate or usury restriction under South Dakota law when a written agreement is formed. In 2005, Federated Department Stores, now Macy's, Inc. , sold its consumer credit portfolio to Citigroup, which reissued its cards under the name Department Stores National Bank (DSNB). As of 2013, Citibank employed 2,900 people in Sioux Falls , South Dakota, and contributed to

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924-576: Is responsible for this stock crash ." On December 24, 1927, its headquarters in Buenos Aires , Argentina, were blown up by the Italian anarchist Severino Di Giovanni , in the frame of the international campaign supporting Sacco and Vanzetti . In 1940 and 1941, branches in Germany and Japan closed. In 1945, the bank handled $ 5.6 billion in Treasury securities for War and Victory Loan drives for

1001-563: Is that a national bank is not subject to state usury laws intended to prevent predatory lending. However, in Cuomo v. Clearing House Association, L. L. C. , the Supreme Court ruled that federal banking regulations do not preempt the ability of states to enforce their own fair-lending laws. There is currently no federal cap on rates. The federal government only requires that whatever rates, fees, or terms are set by issuers be disclosed to

1078-562: Is the fourth-largest bank in the United States in terms of assets. The City Bank of New York was founded on June 16, 1812. The first president of the City Bank was the statesman and retired Colonel, Samuel Osgood . After Osgood's death in August 1813, William Few became President of the bank, staying until 1817, followed by Peter Stagg (1817–1825), Thomas Smith (1825–1827), Isaac Wright (1827–1832), and Thomas Bloodgood (1832–1843). After

1155-494: The Accra Evening News , and wrote a history of The Gold Coast Revolution (1953). With Dorothy Pizer (who was a writer and secretary), Padmore encouraged the leader to write his autobiography. Nkrumah published his autobiography in 1957, the year the Gold Coast became independent Ghana. Padmore deputized for Nkrumah as best man when Sir Stafford Cripps' daughter Peggy married the anti-colonialist Joe Appiah , who

1232-647: The American Civil War with $ 50 million in war bonds, opening the first foreign exchange department of any bank (1897), and receiving a $ 5 million deposit to be given to Spain for the US acquisition of the Philippines (1899). In 1865, the bank joined the national banking system of the United States under the National Bank Act and became The National City Bank of New York. By 1868, it was one of

1309-668: The Banque Nationale de la République d'Haïti , which was the sole commercial bank of Haiti and served as the Haitian government's treasury. Citibank then lobbied for the United States occupation of Haiti , which began in 1915. During the occupation, Citibank imposed a US$ 30 million loan on the Haitian government, which was described by communist George Padmore as transforming Haiti into an "American slave colony". Citibank would go on to acquire some of its largest gains in

1386-680: The British West Indies . His paternal great-grandfather was an Asante warrior who was taken prisoner and sold into slavery at Barbados , where his grandfather was born. His father, James Hubert Alfonso Nurse, was a local schoolmaster who had married Anna Susanna Symister of Antigua , a naturalist. Nurse attended Tranquillity Intermediate College in Port of Spain , before going to St Mary's College for two years (1914 and 1915). He transferred to Pamphylian High School, graduating from there in 1918. After that, he worked for several years as

1463-639: The International Banking Corporation (IBC), a company chartered to conduct banking business outside the U.S., which was forbidden to U.S. national banks. In 1918, IBC became a wholly owned subsidiary and was subsequently merged into the bank. The same year, the bank evacuated all of its employees from Moscow and Petrograd as the Russian Civil War had begun, but also established a branch in Puerto Rico . By 1919,

1540-741: The Kremlin , but continued to support socialism. Padmore lived for a time in France, before settling in London , England, in 1934. Toward the end of his life he moved to Accra , Ghana , where he helped shape the politics of Kwame Nkrumah and the Convention People's Party . Malcolm Ivan Meredith Nurse, better known by his pseudonym George Padmore, was born on 28 June 1903 in Arouca District, Tacarigua , Trinidad , then part of

1617-646: The Moscow City Soviet . As head of the Profintern's Negro Bureau, Padmore helped to produce pamphlet literature and contributed articles to Moscow's English-language newspaper, the Moscow Daily News . He was also used periodically as a courier of funds from Moscow to various foreign Communist Parties. As a deputy of the Moscow soviet, Padmore had served on the commission to investigate

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1694-713: The Nazi seizure of power. Padmore was deported to England by the German government, while the Comintern placed the ITUCNW and its Negro Worker on hiatus in August 1933. Disillusioned by what he perceived as the Comintern's flagging support for the cause of the independence of colonial peoples in favour of the Soviet Union's pursuit of diplomatic alliances with the colonial powers, Padmore abruptly severed his connection with

1771-834: The Office of Thrift Supervision , an agency of the U.S. Treasury Department that was merged with the Office of the Comptroller of the Currency on July 21, 2012. Likewise, a credit union licensed under the Federal Credit Union Act is legally not a bank, although it performs many or most of the same functions. This bank and insurance -related article is a stub . You can help Misplaced Pages by expanding it . George Padmore George Padmore (28 June 1903 – 23 September 1959), born Malcolm Ivan Meredith Nurse ,

1848-456: The Panic of 1837 , Moses Taylor acquired control of the company. During Taylor's ascendancy, the bank functioned largely as a treasury and finance center for Taylor's own extensive business empire. Later presidents of the bank included Gorham A. Worth (1843–1856), Moses Taylor himself (1856–1882), Taylor's son-in-law Percy Rivington Pyne I , and James Stillman (1891–1909). In 1831, City Bank

1925-444: The "Everything Card"—in 1967. In 1967, Walter B. Wriston became chairman and chief executive officer of the bank. In the 1960s, the bank entered into the credit card business. In 1965, First National City Bank bought Carte Blanche from Hilton Hotels . Three years later, under pressure from the U.S. government, the bank sold this division. By 1968, the company created its own credit card. The card, known as " The Everything Card ",

2002-591: The 1920s due to debt payments from Haiti, according to later filings to the Senate Finance Committee . When the Federal Reserve Act allowed it, National City Bank became the first U.S. national bank to open an overseas banking office when it opened a branch in Buenos Aires , Argentina, in 1914. Many of Citi's present international offices are older; offices in London, Shanghai, Calcutta , and elsewhere were opened in 1901 and 1902 by

2079-540: The 1930s and 1940s—among them C. L. R. James, Kenya's Jomo Kenyatta, the Gold Coast's Kwame Nkrumah and South Africa's Peter Abrahams —saw publishing as a strategy for political change. They published small periodicals, which were sometimes seized by authorities when they reached the colonies. They published articles in other people's periodicals, for instance, the Independent Labour Party 's New Leader . They published pamphlets. They wrote letters to

2156-445: The 1970s, Citibank was one of the first U.S. banks to introduce automatic teller machines (ATMs), which gave customers 24-hour access to cash. In 2002, Citigroup, the parent of Citibank, acquired Golden State Bancorp and its California Federal Bank , which was one-third owned by Ronald O. Perelman , for $ 5.8 billion. In 1999, Citibank was sued for improperly charging late fees on its credit cards. In August 2004, Citigroup entered

2233-574: The American consul; later he reported on Padmore to the American Embassy in Paris. According to the embassy's account, Wright said that Nkrumah was relying heavily on Padmore as he made plans for independence. When Wright published Black Power in 1954, Padmore was finishing a book that he hoped would be both a history and blueprint for African independence: Pan-Africanism or Communism? It

2310-713: The Black Atlantic, 1500–2000 , p. 142, Rowman & Littlefield (16 November 2009), ISBN   0742567303 . In July 1930, Padmore was instrumental in organizing an international conference in Hamburg , Germany. It launched a Comintern-backed international organization of black labour organizations called the International Trade Union Committee of Negro Workers (ITUCNW). Padmore lived in Vienna , Austria, during this time, where he edited

2387-555: The Chicago banking factions accused U.S. Secretary of the Treasury L. M. Shaw of having too close of a relationship with National City and other Wall Street operators. In 1907, Stillman, then the bank's chairman, intervened, along with J. P. Morgan and George Fisher Baker , in the Panic of 1907 . Between 1910 and 1911, the Department of State backed a consortium of American investors headed by Citibank to acquire control over

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2464-752: The ITUCNW late in the summer of 1933. The Comintern's disciplinary body, the International Control Commission (ICC), asked him to explain his unauthorized action. When he refused to do so, the ICC expelled him from the Communist movement on 23 February 1934. A phase of Padmore's political journey was at an end. As a result of his membership in the Communist Party and working for it in the Soviet Union and Germany, Padmore

2541-549: The Texas market with the purchase of First American Bank of Bryan, Texas . The deal established the firm's retail banking presence in Texas, giving Citibank over 100 branches, $ 3.5 billion in assets and approximately 120,000 customers in the state. In 2006, the bank entered the Philadelphia market, opening 23 branches in the metropolitan area. In 2013, Citibank closed these locations for "efficiency-driven" reasons. In 2006,

2618-539: The U.S. government. In 1952, James Stillman Rockefeller was elected president and then chairman in 1959, serving until 1967. Stillman was a direct descendant of the Rockefeller family through the William Rockefeller (the brother of John D. ) branch. In 1960, his second cousin, David Rockefeller , became president of Chase Manhattan Bank , National City's long-time New York rival for dominance in

2695-538: The USSR made a decisive shift in foreign policy: Britain and France, colonial powers with colonies in Africa , were classified as "democratic-imperialisms"—a lower priority than the category of "fascist-imperialist" powers, in which Japan and Germany fell. This shift fell into direct contradiction with Padmore's prioritization of African independence, as Germany and Japan had no colonies in Africa. Padmore broke instantly with

2772-578: The [1930 racial] assault on [Robert] Robinson [in Stalingrad].... Even after he had renounced Communism in the mid-1930s, Padmore continued until his death in 1959 to cite the trial of Robinson's assailants as evidence that the USSR was the only country that had effectively eradicated racial discrimination. --Meredith L. Roman, "Robert Robinson (1930s)", in Beatriz Gallotti Mamigonian and Karen Racine (eds), The Human Tradition in

2849-588: The activist had been poisoned, his companion Pizer typed out a detailed statement about his death. She said that his liver condition had worsened in the previous nine months, before he sought treatment from a longtime physician friend. Due to his failing liver, he suffered haemorrhages that resulted in his death. ...eight countries sent delegations to his funeral in London. But it was in Ghana that his ashes were interred and everyone says that in this country, famous for its political demonstrations, never had there been such

2926-766: The bank announced that it would close its 17 branches in Massachusetts and end sponsorship of a theater in Boston. National bank (United States) The term national bank in the U.S. context originally referred to the Revolutionary War –era Bank of North America , its successor, the First Bank of the United States , or that institution's successor, the Second Bank of the United States . The first survives as an acquisition of Wells Fargo , while

3003-592: The bank had become the first U.S. bank to have $ 1 billion in assets. As of March 9, 1921, there were four national banks in New York City operating branch offices: Chatham and Phenix National , the Mechanics and Metals National , the Irving National , and National City Bank. Charles E. Mitchell , also called "Sunshine" Charlie Mitchell, was elected president in 1921. In 1929, he was made chairman,

3080-614: The bank had been nicknamed "Citibank" since the 1860s, when City Bank of New York adopted it as an eight-letter wire code address. "Citicorp" became the holding company's formal name in 1974, and in 1976, First National City Bank was renamed Citibank, N.A. The name change also helped to avoid confusion in Ohio with Cleveland -based National City Corp. , though the banks never had any significant overlapping areas except for Citi credit cards issued in National City territory. In addition, at

3157-620: The bank set aside $ 3 billion in reserves for loan losses in Brazil and other developing countries . In 1990, the bank established a subsidiary in Poland. In 1994, it became the world's biggest card issuer. Also in the 1980s, the bank launched the Citicard, which allowed customers to perform all transactions without a passbook . Branches also had terminals with simple one-line displays that allowed customers to get basic account information without

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3234-569: The banking industry in the United States. Following its merger with the First National Bank in 1955, the bank changed its name to The First National City Bank of New York, then shortened it to First National City Bank in 1962. It is also worth noting that the bank began recruiting at Harvard Business School in 1957, arranged the financing of the 1958 Hollywood film, South Pacific , and had its branches in Cuba nationalized in 1959 by

3311-478: The centre of a community of writers dedicated to pan-Africanism and African independence. His boyhood friend C. L. R. James , also from Trinidad, was already there, writing and publishing. James had started International African Friends of Ethiopia in response to Italy's invasion of Ethiopia . That organization developed into the International African Service Bureau (IASB), which became a centre for African and Caribbean intellectuals' anti-colonial activity. Padmore

3388-421: The company announced a naming rights sponsorship deal for the new stadium of New York Mets , Citi Field , which opened in 2009. The deal reportedly required payments by Citi of $ 20 million per year for 20 years. As of September 2020, Citibank's US branches are located in the metropolitan areas of New York, Los Angeles, San Francisco, Sacramento, San Diego, Washington DC, Las Vegas, Miami, and Chicago. California

3465-404: The company's German division, was sold to Crédit Mutuel . On February 22, 2010, it was renamed to Targobank . In August 2008, after a three-year investigation by the California Attorney General , Citibank was ordered to repay the $ 14 million that was removed from 53,000 customers accounts over an 11-year period from 1992 to 2003, plus an additional $ 4 million in interest and penalties. The money

3542-494: The consumer in accordance with the Truth in Lending Act . Additionally, from the 1860s until the program was retired in 1935, national banks could issue National Bank Notes , currency backed by bonds deposited with the Treasury. Notwithstanding the name, many national banks do not have nationwide operations. Many have operations in only one city, county, or state. This is because of the McFadden Act of 1927, which prohibited interstate branching by national banks. That restriction

3619-423: The cover describes Padmore as European correspondent for the Pittsburgh Courier , Gold Coast Spectator , African Morning Post , Panama Tribune , Belize Independent and The Bantu World . In 1941, Padmore argued that the British Empire should be transformed into "federated commonwealths based upon Socialist principles." Before World War II , James left for the United States, where he met Kwame Nkrumah,

3696-475: The editor; and, thanks to the support of publisher Fredric Warburg (of Secker & Warburg ), they published books. Warburg brought out Padmore's Africa and World Peace (1937), as well as books by both Kenyatta and James. In a foreword to Africa and World Peace , Labour politician Sir Stafford Cripps wrote: "George Padmore has performed another great service of enlightenment in this book. The facts he discloses so ruthlessly are undoubtedly unpleasant facts,

3773-403: The fourth quarter of 2007, after an $ 18.1 billion write down. In March 2008, Citibank set up Mobile Money Ventures, a joint venture with SK Telecom , to develop mobile apps for banking. It sold the venture to Intuit in June 2011. In May 2008, the company closed an $ 87.5 million leaseback transaction for branches in New York City. In July 2008, Citibank Privatkunden AG & Co. KGaA ,

3850-436: The help of former American heiress Nancy Cunard , he found a London agent and, eventually, a publisher (Wishart). It published the book in 1936, the year the publisher became Lawrence and Wishart , known to be sympathetic to communists. Publication of books by black men at that time was rare in the United Kingdom. A Swiss publisher distributed a German translation in Germany. In 1934, Padmore moved to London , where he became

3927-460: The inner circle of the IASB but also by W. E. B. Du Bois , the American organizer of earlier Pan-African conferences. The Manchester conference helped set the agenda for decolonisation in the post-war period. Padmore used London as his base for more than two decades. He and Dorothy Pizer , a white English writer and his domestic partner and co-worker, shared a flat that became a center for African nationalists. Padmore maintained connections across

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4004-417: The largest banks in the United States. The bank became the largest bank in New York City following the Panic of 1893 . Two years later, in 1895, it had become the largest bank in the U.S. In 1904, the bank helped finance the Panama Canal . Two years later, in 1906, 11% of the U.S. federal government 's bank balances were held by National City. National City at this time was the banker of Standard Oil , and

4081-454: The loans from the Treasury in full, including interest, resulting in a net profit for the U.S. federal government. On January 16, 2009, Citigroup announced that it was separating Citi Holdings Inc. , its non-core businesses such as brokerage, asset management, and local consumer finance and higher-risk assets, from Citicorp. The split was presented as allowing Citibank to concentrate on its core banking business. On October 19, 2011, Citigroup,

4158-401: The monthly publication of the new group, The Negro Worker . In 1931, Padmore moved to Hamburg and accelerated his writing output, continuing to produce the ITUCNW magazine and writing more than 20 pamphlets in a single year. This German interlude came to an abrupt close by the middle of 1933, however, as the offices of the Negro Worker were ransacked by ultra-nationalist gangs following

4235-464: The new socialist government, and has its first African-American director in 1969, Franklin A. Thomas . The company organically entered the leasing and credit card sectors, and its introduction of US dollar-denominated certificates of deposit in London marked the first new negotiable instrument in the market since 1888. Later to become part of MasterCard , the bank introduced its First National City Charge Service credit card—popularly known as

4312-426: The others are defunct. In the modern usage since the 1860s, the term national bank has taken a precise meaning: a banking institution chartered and supervised by the Office of the Comptroller of the Currency ("OCC"), an agency in the U.S. Treasury Department , pursuant to the National Bank Act . Inclusion in the bank's name of the word National , the designation National Association , or its abbreviation N.A.

4389-448: The parent of Citibank, agreed to a $ 285 million civil fraud penalty after the U.S. Securities and Exchange Commission accused the company of betting against risky mortgage-related investments that it sold to its clients. In 2014, Citigroup announced it would exit retail banking in 11 markets, primarily in Europe and Central America. In September 2014, it exited the Texas market with the sale of 41 branches to BB&T . In September 2015,

4466-591: The parent of Citibank, announced layoffs of 17,000 employees, or 8% of its workforce. On November 4, 2007, Charles Prince resigned as the chairman and chief executive of Citigroup, the parent of Citibank, following crisis meetings with the board in New York in the wake of billions of dollars in losses related to subprime lending . Former United States Secretary of the Treasury Robert Rubin took over as chairman, subsequently hiring Vikram Pandit as chief executive. On November 5, 2007, several days after Merrill Lynch announced that it too had been losing billions from

4543-504: The state holding more bank assets than any other state. In 2013, Citibank purchased the credit card portfolio of Best Buy from Capital One. On April 1, 2016, Citigroup became the exclusive issuer of Costco 's branded credit cards. The bank's private-label credit card division, Citi Retail Services, issues store-issued credit cards for such companies as: American Airlines , Best Buy , ConocoPhillips , Costco , ExxonMobil , The Home Depot , Sears , Shell Oil , and Staples Inc. In

4620-464: The state. The new Citibank office is described as an "experience center" in the planning documents. The plans identify the operation as "retail bank/office space". Citibank doesn't have a major retail banking presence in the Dallas area. A spokesman in the bank's New York office would not give details about what is planned in the North Dallas location. "We'll decline to comment on this," said Citibank's Drew Benson in an email. On April 11, 2007, Citigroup,

4697-472: The story which he tells of the colonization of Africa is sordid in the extreme, but both the facts and the story are true. We have, so many of us, been brought up in the atmosphere of ' the white man's burden ', and have had our minds clouded and confused by the continued propaganda for imperialism that we may be almost shocked by this bare and courageous exposure of the great myth of the civilizing mission of western democracies in Africa." The Biographical Note on

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4774-411: The subprime mortgage crisis in the United States, Citi reported that it will lose between $ 8 billion and $ 11 billion in the fourth quarter of 2007, in addition to the $ 6.5 billion it lost in the third quarter of 2007. Effective November 30, 2007, Citibank sold its 17 Puerto Rico branches, along with $ 1.0 billion in deposits, to Banco Popular . In January 2008, Citigroup reported a $ 10 billion loss in

4851-446: The surname of the friend who had been his best man, Errol Padmore). Padmore officially joined the Communist Party in 1927 (when he was in Washington, DC ) and was active in its mass organization targeted to black Americans, the American Negro Labor Congress . In March 1929 he was a fraternal (non-voting) delegate to the 6th National Convention of the CPUSA, held in New York City . Padmore, an energetic worker and prolific writer,

4928-409: The time of the name change to Citicorp, in 1968, National City of Ohio was mostly a Cleveland-area bank and had not gone on its acquisition spree that would occur in the 1990s and 2000s. Any possible name confusion had Citi not changed its name from National City eventually became completely moot when PNC Financial Services acquired National City in 2008 during the subprime mortgage crisis . In 1987,

5005-430: The world, sending articles to international newspapers and keeping up a correspondence with American writers and activists W. E. B. Du Bois and Richard Wright . The latter was then living in Paris . At Padmore's urging, Wright travelled to the Gold Coast in 1953 to explore the buildup to independence, and he wrote his book Black Power (1954). Before Wright left the Gold Coast, he gave a confidential report on Nkrumah to

5082-402: Was a leading Pan-Africanist , journalist, and author. He left his native Trinidad in 1924 to study medicine in the United States, where he also joined the Communist Party . From there he moved to the Soviet Union , where he was active in the party, and working on African independence movements. He also worked for the party in Germany but left after the rise of Nazism in the 1930s. In 1935,

5159-414: Was barred from re-entry into the United States. He was a non-citizen and the government did not want to admit known communists. Although alienated from Stalinism , Padmore remained a socialist. He sought new ways to work for African independence from imperial rule. Relocating to France, where Garan Kouyaté was an ally from his Comintern days, Padmore began to write a book: How Britain Rules Africa . With

5236-427: Was chair of IASB, the Barbadian trade unionist Chris Braithwaite was its organising secretary, and James edited its periodical, International African Opinion . Ras Makonnen from British Guiana handled the business end. Other key members included Jomo Kenyatta from Kenya and Amy Ashwood Garvey . As Carol Polsgrove has shown in Ending British Rule in Africa: Writers in a Common Cause, Padmore and his allies in

5313-417: Was his attempt to counter Cold War suspicions in Western nations that the African independence movements were fundamentally communist-inspired. As independence neared for the Gold Coast, the London community had splintered. In 1956, James had returned from the United States, but Padmore and Pizer referred to him with condescension in letters to Wright. Meanwhile, former Padmore ally Peter Abrahams published

5390-452: Was named in honour of the African nationalist Edward Blyden of Liberia . Nurse subsequently registered at New York University but soon transferred to Howard University . During his college years in the US, Nurse became involved with the Workers (Communist) Party (CPUSA). When engaged in party business, he adopted the name George Padmore (compounding the Christian name of his father-in-law, Constabulary Sergeant-Major George Semper, and

5467-443: Was not lifted until Congress enacted the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 . In August 2021, Chase Bank became the first national bank to establish a retail presence in all 48 states of the contiguous United States . National banks are distinguished from federal savings associations , including federal savings and loans and federal savings banks , which are financial institutions chartered by

5544-460: Was one of Nkrumah's closest allies at the time. Padmore accepted Nkrumah's invitation to move to Ghana, but his time there as Nkrumah's advisor on African affairs was difficult. Padmore was talking with friends about leaving Ghana to settle elsewhere when he returned to London for treatment of cirrhosis of the liver . Padmore died on 23 September 1959, aged 56, at University College Hospital in London. A few days later, responding to rumours that

5621-675: Was promoted as a kind of East Coast version of the BankAmericard . By 1969, First National City Bank decided that the Everything Card was too costly to promote as an independent brand and joined Master Charge (now MasterCard ). Citibank unsuccessfully tried again from 1977 to 1987 to create a separate credit card brand, the Choice Card . In 1967, First National City Bank reorganized as a one-bank holding company, First National City Corporation, or "Citicorp" for short. However,

5698-431: Was purchased in 1981. In 1981, Citibank chartered a South Dakota subsidiary to take advantage of new laws that raised the state's maximum permissible interest rate on loans to 25% (then the highest in the nation). In many other states, usury laws prevented banks from charging interest that aligned with the extremely high costs of lending money in the late 1970s and early 1980s, making consumer lending unprofitable. There

5775-468: Was taken under an electronic "account sweeping program" where any positive balances from over-payments or double payments were removed without notice to the customers. As a result of the 2007–2008 financial crisis and huge losses in the value of its subprime mortgage assets, Citigroup, the parent of Citibank, received a bailout in the form of an investment from the U.S. Treasury . On November 23, 2008, in addition to an initial investment of $ 25 billion,

5852-691: Was tapped by Communist Party trade union leader William Z. Foster as a rising star. He was taken to Moscow to deliver a report on the formation of the Trade Union Unity League to the Communist International (Comintern) later in 1929. Following his presentation, Padmore was asked to stay on in Moscow to head the Negro Bureau of the Red International of Labour Unions (Profintern). He was elected to

5929-568: Was the site of one of America's first bank heists when two burglars, James Honeyman and William J. Murray, made off with tens of thousands of dollars' worth of bank notes, and 398 gold doubloons , the equivalent of $ 52 million in 2013 currency. The bank financed war bonds for the War of 1812 , serving as a founding member of the financial clearinghouse in New York (1853), underwriting the Union during

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