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The bank splits off its research arm in an effort to avoid potential conflicts of interest.
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The Associates, acquired by Citigroup, engaged in systematic and widespread deceptive and abusive lending practices such as the packing of unwanted credit insurance on consumers' loans.
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All outstanding investigations into research, IPO allocation and distribution practices settled.
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Extensive report originally compiled by George Draffan of endgame.org for the Rainforest Action Network.
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Research analysts at Salomon Smith Barney published false or misleading research reports that were exaggerated, unwarranted, or lacked a reasonable basis.
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Alleged that the firm mislead investors by characterizing loan proceeds as cash from operating activities.
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News and commentary critical of the practices of the major banking and insurance group.
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"Nearly four years of relentless campaigning by Rainforest Action Network and allies around the world" seems to have paid off, as this press release by RAN indicates.
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