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CITIGROUP WILL PAY $400 MILLION FINE OVER FAILURE TO ASSESS RISK AND INTERNAL CONTROLS

Published On 07 Oct 2020 10:46 PM


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Highlights

• According to the Federal Reserve, Citigroup has failed in various areas of risk management and internal controls that include data management, capital planning and regulatory reporting

• This fine was the punishment for Citigroup's long standing failure to remedy problems on its risk and data systems said the Office of the Comptroller of the Currency (OCC)

• Citigroup in its stateme....


Tags : Citigroup, Citibank, Federal Reserve, OCC, ,
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