Regulators Fine Citigroup $136 Million Over 2020 Risk Order

Regulators have fined Citigroup a combined $135.6 million, saying the lender failed to make enough progress in resolving internal data management and risk issues. Citigroup has “made insufficient progress remediating its problems with data quality management and failed to implement compensating controls to manage its ongoing risk,” the Federal Reserve Board said, adding that it is still monitoring Citigroup’s efforts to comply with the 2020 agreement. The OCC said its fine, to be paid to the U.S. Treasury, was for the bank’s “failure to meet remediation milestones and make sufficient...