Citigroup's Credit Card Buy

The big bank buys into Central America.
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Citigroup

(C) - Get Report

is on the move again, making another international acquisition.

The nation's biggest bank says it's buying Central America's largest credit card issuer, Grupo Financiero Uno, for an undisclosed sum. Privately owned GFU has issued more than 1.1 million credit cards and has $2.1 billion in assets.

The deal for Grupo Financiero comes 10 days after Citigroup paid $3.1 billion to buy a 20% equity stake in Akbank, Turkey's third-largest lender.

Earlier this year, the

Federal Reserve

took the handcuffs off Citigroup and gave the bank the green light to start making sizable acquisitions again. A year ago, the Fed instructed Citigroup to refrain from making any "significant'' acquisitions while the bank worked to improve its internal compliance procedures.