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Thursday Express: Citi to restructure i-banking ops; FBI, OCC probing AmEx

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Thursday Express: Citi to restructure i-banking ops; FBI, OCC probing AmEx

* Citigroup is expected to restructure its investment banking operations, with Tyler Dickson and Manolo Falco set to lead the new segment, Business Insider reports.

* A group of business development companies has requested the U.S. Securities and Exchange Commission to exempt their industry from making fee disclosures.

* Goldman Sachs has been dropped out of the auction for a £109 billion Lloyd's Banking Group investment contract, the Financial Times reports.

* Korea Post, South Korea's postal service, will meet with Goldman Sachs' cryptocurrency research team by the end of September to discuss digital assets, blockchain and other related areas, Bloomberg News reports.

* In Oklahoma, American Bancorp is planning to acquire Peoples State Bancshares, according to a notice in the Tulsa World.

* TNB USA has filed a lawsuit against the New York Fed over its inaction on the bank's request to open an interest-bearing account needed to carry out its business strategy.

* AG Mortgage Investment Trust will enter the single-family rental business through its acquisition of a portfolio for $140 million.

* Hedge fund manager Fusion Investment Group was acquired by Hong Kong-based investment management firm Rayliant Global Advisors, the Pittsburgh Times reports.

* The Federal Bureau of Investigation and the Office of the Comptroller of the Currency are looking into American Express' foreign exchange international payments unit over allegations of misrepresenting prices to clients, WSJ sources say.

* Freddie Mac CEO Donald Layton is planning to retire in the second half of 2019.

* The U.S. Department of Justice is close to giving its approval to CVS Health's pending acquisition of Aetna, and Cigna's pending acquisition of Express Scripts, WSJ sources say.

* A U.S. district court has dismissed a 2017 derivatives lawsuit against insurance company Aflac filed by three current or former independent agents.

* Canadian insurer Great-West Lifeco is considering selling a block of insurance contracts worth approximately $2 billion, Reuters sources say.

* Federal Reserve Bank of Atlanta President Raphael Bostic said the Fed should continue increasing interest rates to move towards a neutral policy stance.

* And the House Financial Services Committee will hold a hearing at 10 a.m. ET titled, "A Failure to Act: How a Decade without GSE Reform Has Once Again Put Taxpayers at Risk."

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