Citigroup Fined $136 Million by Regulatory Bodies for Compliance Failures
Wednesday, 10 July 2024, 21:31
Citigroup Fined for Compliance Failures
The Federal Reserve and the Office of the Comptroller of the Currency have fined Citigroup $136 million.
Non-Compliance with Consent Order
- Regulatory bodies pointed out Citigroup's failure to address internal control issues.
- The bank had been issued a consent order in 2020.
The fines highlight the bank's shortcomings in risk management and control procedures.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.