Citigroup Inc. has been named as a lead underwriter for Circle's IPO filing with the SEC, supporting the stablecoin issuer’s move into public markets. The decision comes amid a crypto-friendly political environment and reflects routine underwriting practices within the financial services industry.

Citigroup has been fined $136 million for failing to remedy longstanding data issues, leading to significant cuts in executive bonuses. In tandem, its rollback of diversity, equity, and inclusion initiatives raises concerns over its commitment to progressive corporate practices, potentially undermining democratic accountability.

Citigroup ended its ambitious diversity, equity, and inclusion (DEI) goals citing an executive order by President Trump. This move, reversing previous efforts supporting a diverse workforce, raises concerns about the bank's alignment with authoritarian agendas and its commitment to ethical business practices.

Citigroup released a comprehensive human rights statement outlining its commitment to upholding international human rights norms, enforcing strict supply chain ethics, and promoting fair labor practices. The document details measures such as supplier due diligence, anti-discrimination policies, and robust employee protections, reflecting a proactive stance against abuses and the reinforcement of ethical business practices.

Citigroup's compliance restructuring following significant fines and regulatory pressure highlights persistent issues in its business practices. The move to overhaul data management systems under new CTO Tim Ryan is seen as a remedial effort, yet the incident underscores longstanding ethical lapses that risk undermining public trust and, by extension, the institutional safeguards against authoritarian practices.

Citigroup's 2024 Political Engagement Report provides detailed insights into its political contributions and lobbying expenditures. The report reveals federal and state-level lobbying of over $4 million, along with numerous contributions through its PACs. Such extensive political cash flows raise concerns from a left-leaning perspective as they demonstrate how corporate money can influence policy-making in favor of corporate interests, potentially undermining democratic accountability and paving the way for authoritarian practices.

Citigroup's detailed 2023 report outlines its political contributions through its employee-funded PAC and lobbying activities that channel millions of dollars to a wide array of political candidates and committees. This aggressive political engagement strategy raises concerns about the company’s role in shaping public policy and potentially supporting authoritarian tendencies.

In honor of the 70th anniversary of the Universal Declaration of Human Rights, Citigroup has updated its corporate statement on human rights. The new statement reaffirms its commitment to international standards such as the Equator Principles and UN Guiding Principles, emphasizing transparency, non-discrimination in retail lending, employee diversity, and customer privacy in digital financial services.