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Monday Express: Citi gives ValueAct more access; PG&E in talks with i-banks

* Citigroup, which is releasing its earnings results today, entered into an information sharing and engagement agreement with activist hedge fund ValueAct, giving the latter more insight to the bank's strategy, governance and operations.

* The central bank of India fined Citibank NA India 30 million rupees for failing to comply with the "fit and proper" criteria for bank directors.

* Energy company PG&E is in talks with large investments banks about a $3 billion to $5 billion financing package to help navigate bankruptcy proceedings, sources told Reuters. Citi, JPMorgan and Bank of America are among PG&E's existing lenders, according to the report.

* American Credit Acceptance has acquired the loan portfolios of Citizens Finance and Citizens Finance of Illinois, both units of Heartland Financial USA.

* People's Bank of China has refused to formally acknowledge and process the applications of Visa and Mastercard to process Chinese yuan payments, sources told the Financial Times.

* European Union-based asset managers were unable to register with the U.S. Securities and Exchange Commission in recent months due to concerns about the EU's General Data Protection Regulation, sources told the Financial Times.

* Insurance regulators in North Carolina, South Carolina, Vermont and Virginia reapproved China Oceanwide Holdings Group's proposed acquisition of Genworth Financial subsidiaries.

As of Jan. 11, US$1 was equivalent to 70.40 Indian rupees.

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