American Citicorp and Travelers merger was announced on April 6, 1998 (March tenth day) Tiger years. Travelers


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in New York, April 1998, the U.S. Citicorp and Travelers merger was announced, the merger and the amount of up to $ 82 billion, is by far the world's largest financial merger action .
the merger will enable the newly formed Citigroup to become the nation's second only to Chase Manhattan newly established Citigroup to become the second largest financial group in the United States after the Chase Manhattan Bank, with total assets of $ $ 700 000 000 000 annual revenues of $ 50 billion, the banking business will continue throughout more than 100 countries around the world more than 100 million customers, the credit card market in the world among the best. More striking is that Citigroup will the Citibank business and Travelers investment insurance business rolled into one, creating the U.S. financial sector, "one-stop service," the first of its kind. Some people think that this merger is a serious challenge to the global financial sector counterparts.
Citigroup merger news, banking, securities and insurance industry giants seem to hear the alarm: if they do not make efforts to expand the scale and legalistic conventions of individual jobs, it would be difficult to maintain the status of the past. Forbidding banks established in the United States in the 1930s, it was estimated that cater to the regulations of the insurance and securities businesses may soon become a thing of the past. Citibank account money laundering, the U.S. Department of Justice announced soon, a member of Congress asked President Clinton and other decision makers to block the merger of Citigroup and Travelers Group plans
this decision due to force someone through it the investigation is not yet completed. However, a Citigroup spokesman said that they have a comprehensive internal investigation of Citibank, has not found any evidence to show that it had engaged in illegal activities.