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Citigroup’s Pandit Says U.S. Rules May Squeeze Credit

Citigroup Inc. Chief Executive Officer Vikram Pandit said new U.S. banking rules may mean tighter credit and less access for borrowers because of costs imposed on lenders.

“Millions of people don’t have bank accounts,” Pandit, 54, said today during a speech in Chicago. “Recent reforms could unintentionally make this problem worse.”