Citigroup (C) Faces $136M Penalty for Failing to Fix Data Issues (Revised)
CCiti(C) ZACKS·2024-07-12 17:16

Citigroup Inc. (C) announced that it has been penalized by the U.S. bank regulators with a $136 million fine for failing to make adequate progress in fixing data management issues. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) disclosed the action on Wednesday. The company’s shares fell 1.03% in the after-market hours following the announcement.The regulators stated that Citi made “insufficient progress” in dealing with the issues identified in 2020 which required Citi to fix t ...