Citigroup CEO Reports U.S. Spending Caution, Bank Overhaul

Citigroup CEO Jane Fraser reported that U.S. consumers are exhibiting increased caution in their spending habits, opting for smaller purchases. This shift reflects a broader trend of financial prudence amid economic uncertainties. Additionally, Fraser noted that while consumers remain resilient, there is a noticeable shift from credit to debit card usage among customers with lower credit scores, indicating a more discerning approach to managing finances. She also emphasized an ongoing overhaul at the bank.