Finance
Citi Fined $136 Million for Failing to Fix Regulatory Issues
- Fed says Citi made ‘insufficient progress’ correcting problems
- Penalties include $75 million from OCC, $61 million from Fed
Citigroup Inc. will pay almost $136 million in fines to US bank regulators over issues related to data-quality management and risk controls.
The Federal Reserve said Wednesday that its penalty was for Citi violating an enforcement action from 2020. The bank will pay $61 million to the Fed and about $75 million to the Office of the Comptroller of the Currency.