Citigroup, Inc.’s (C) ‘living will,’ which outlines the company's plans for winding down in the event of a catastrophic event, was rejected by U.S. banking regulators. In a meeting, most of a five-member Federal Deposit Insurance Corporation (“FDIC”) board decided not to approve the company’s resolution plan, citing ‘deficient’ data controls.As part of the measures implemented after the 2008 financial crisis, the largest banks in the country are mandated to have these kinds of plans in place to protect the ...