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Citigroup fined $400 million over faulty risk management

Citigroup fined $400 million over faulty risk management

Citigroup has been fined $400M by US regulators over faulty risk management. The Office of the Comptroller of the Currency said the penalty is in response to shortcomings in the bank’s risk management, internal controls and data governance programs. Citigroup said in a statement it is committed to addressing the complaints and is working on ways to better controls, infrastructure and governance.

KCooper
KCooper
Trevelyn
Trevelyn 2 months

The problem is some banks have gotten too big.

Francisco d'Anconia
Francisco d'Anconia 2 months

Well, Jane's been in charge of the whole magilla for almost a month now, she needed a pet project.

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