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1. • • "For several years, the Bank has failed to implement and maintain an enterprisewide risk management and compliance risk management program, internal controls, or a data governance program commensurate with the Bank’s size, complexity, and risk profile," the OCC said in its consent order.
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     Citigroup fined $400 million by regulators, agrees to fix ...

2. People also ask

   Why did Citigroup pay a fine?

   • The fines come from the Federal Reserve and the Office of the Comptroller of the Currency, which said in separate releases that Citigroup had failed to meet its obligations stemming from a 2020 consent order related to the bank’s risk and control issues.

   Federal regulators fine Citigroup $136 million for taking too long to

   www.pbs.org/newshour/economy/federal-regulators-fine-citigroup-136-million-for-taking-too-long-to-fix-internal-control-issues

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   Why did Citigroup violate the 2020 order?

   • "Citigroup violated the 2020 order through delays in completing milestones included in its approved plan," the Fed said on Wednesday. The OCC is also requiring the bank to enact a new quarterly process to ensure it is devoting enough resources to meeting its milestones, Fraser said in a memo to employees seen by Reuters.

   US regulators fine Citi $136 million for failing to fix longstanding

   www.reuters.com/business/finance/us-bank-regulators-fine-citi-136-million-failing-address-longstanding-data-2024-07-10/

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   Why did Citi fail a regulatory exam?

   • Citi failed those exams, forcing it to do additional work, the source said. The regulatory notices come as the bank works through two 2020 consent orders, in which the Fed and the OCC directed the bank to fix longstanding and widespread deficiencies in its risk management, data governance and internal controls.

   Exclusive: Citi hit by new Fed rebuke, setbacks on consent orders

   www.reuters.com/business/finance/citi-hit-by-new-fed-rebuke-setbacks-consent-orders-2024-02-12/

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   Why did a government regulator slap Citigroup with a $135.6 million fine?

   • NEW YORK (AP) — A pair of government regulators slapped Citigroup with a $135.6 million fine on Wednesday, saying the bank has made insufficient progress in resolving longstanding internal control and risk issues. It’s a major blow to Jane Fraser, the bank’s CEO, who has staked her career on making Citi leaner and less complex.

   Federal regulators fine Citigroup $136 million for taking too long to

   www.pbs.org/newshour/economy/federal-regulators-fine-citigroup-136-million-for-taking-too-long-to-fix-internal-control-issues

   See all results for this question

   How much will Citigroup pay the Fed?

   • The bank will pay $61 million to the Fed and about $75 million to the Office of the Comptroller of the Currency. “Citigroup has made insufficient progress remediating its problems with data quality management and failed to implement compensating controls to manage its ongoing risk,” the central bank said in a statement.

   Citi fined US$136 million for lack of progress on consent orders

   www.bnnbloomberg.ca/business/2024/07/10/citi-to-pay-61-million-to-fed-over-data-quality-risk-controls/

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   What are Citi's two consent orders?

   • Citi’s two consent orders lay out several major issues that the bank needs to resolve, with work further broken down into smaller steps. Problems with any of the steps can lead to the bank not being able to resolve the main issue even if it has made progress in other areas, according to two sources familiar with the matter.

   Exclusive: Citi hit by new Fed rebuke, setbacks on consent orders

   www.reuters.com/business/finance/citi-hit-by-new-fed-rebuke-setbacks-consent-orders-2024-02-12/

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3. www.reuters.com › business › financeExclusive: Citi hit by new Fed rebuke, setbacks on consent orders

   www.reuters.com › business › finance

   Feb 12, 2024 · The regulatory notices come as the bank works through two 2020 consent orders, in which the Fed and the OCC directed the bank to fix longstanding and widespread deficiencies in its risk...

4. www.bnnbloomberg.ca › business › 2024/07/10Citi fined US$136 million for lack of progress on consent orders

   www.bnnbloomberg.ca › business › 2024/07/10

   Jul 10, 2024 · (Bloomberg) -Citigroup Inc. will pay almost US$136 million in fines to U.S. 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.

5. www.reuters.com › business › financeUS regulators fine Citi $136 million for failing to fix ...

   www.reuters.com › business › finance

   Jul 11, 2024 · "Citigroup violated the 2020 order through delays in completing milestones included in its approved plan," the Fed said on Wednesday.

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7. www.pbs.org › newshour › economyFederal regulators fine Citigroup $136 million for taking too ...

   www.pbs.org › newshour › economy

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   Jul 10, 2024 · The fines come from the Federal Reserve and the Office of the Comptroller of the Currency, which said in separate releases that Citigroup had failed to meet its obligations stemming from a 2020...

8. www.usnews.com › news › businessGovernment Fines Citigroup $136 Million for Failing to Fix ...

   www.usnews.com › news › business

   • Cached

   Jul 10, 2024 · The fines come from the Federal Reserve and the Office of the Comptroller of the Currency, which said in separate releases that Citigroup had failed to meet its obligations stemming from a 2020...

9. apnews.com › article › citigroup-jane-fraser-federalGovernment fines Citigroup $136 million for failing to fix ...

   apnews.com › article › citigroup-jane-fraser-federal

   • Cached

   Jul 10, 2024 · The fines come from the Federal Reserve and the Office of the Comptroller of the Currency, which said in separate releases that Citigroup had failed to meet its obligations stemming from a 2020 consent order related to the bank’s risk and control issues.

10. fortune.com › 2024/07/10 › citigroup-has-been-finedCitigroup has been fined more than half a billion dollars ...

    fortune.com › 2024/07/10 › citigroup-has-been-fined

    • Cached

    Jul 10, 2024 · The fines come from the Federal Reserve and the Office of the Comptroller of the Currency, which said in separate releases that Citigroup had failed to meet its obligations stemming from a 2020...