Federal Reserve Fines Citigroup $400M for ‘Longstanding’ Internal Problems

HousingWire, Oct. 8, 2020–Alex Roha
Inadequate implementation was found in data quality management and regulatory reporting, compliance risk management, capital planning and liquidity risk management, the Fed announced on Wednesday. Citigroup has agreed to pay a $400 million penalty for failing to address the faults, government officials said.