Citigroup fined $400 million by U.S. regulators for ‘longstanding deficiencies.'
Citigroup has agreed to pay a $400 million penalty for failing to address "several longstanding deficiencies" across the company, U.S. banking regulators said on Wednesday.
The Federal Reserve and Office of the Comptroller of the Currency, said that the bank must overhaul its risk management, data governance and internal controls across the company.Andrew Harrer | Bloomberg | Getty Imageshas agreed to pay a $400 million penalty for failing to address "several longstanding deficiencies" across the company, U.S. banking regulators said on Wednesday.
The Federal Reserve and Office of the Comptroller of the Currency, said in separate statements that the bank must overhaul its risk management, data governance and internal controls across the company, noting that it needs "comprehensive corrective actions." The OCC order also gives the regulator the ability to veto any significant new acquisitions by the bank, and reserves the right to require changes to senior management or the bank's board if necessary.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Citigroup fined $400 million by U.S. regulators for 'longstanding deficiencies'Citigroup Inc has agreed to pay a $400 million penalty for failing to address 'several longstanding deficiencies' across the company, U.S. banking regulators said on Wednesday.
Read more »
Regulators Fine Citigroup $400 Million Over ‘Serious Ongoing Deficiencies’In a consent order agreed to by the New York bank’s board, the Federal Reserve faulted Citigroup for falling short in “various areas of risk management and internal controls.”
Read more »
Palantir Cofounders Peter Thiel And Alex Karp Have Unloaded Over $400 Million In Shares Since The IPOPalantir cofounders Peter Thiel and Alex Karp have unloaded over $400 million in shares since the IPO by AngelAuYeung
Read more »
Palantir Cofounders Peter Thiel And Alex Karp Have Unloaded Over $400 Million In Shares Since The IPOThe billionaire cofounders have struck green with their data mining company.
Read more »
Citigroup fined $400 million by U.S. regulators for 'longstanding deficiencies'Citigroup Inc has agreed to pay a $400 million penalty for failing to address 'several longstanding deficiencies' across the company, U.S. banking regulators said on Wednesday.
Read more »
Regulators Fine Citigroup $400 Million Over ‘Serious Ongoing Deficiencies’In a consent order agreed to by the New York bank’s board, the Federal Reserve faulted Citigroup for falling short in “various areas of risk management and internal controls.”
Read more »