Press Release

October 07, 2020 Federal Reserve announces enforcement action against Citigroup Inc. that requires the firm to correct several longstanding deficiencies For release at 4:30 p.m. EDT Share The Federal Reserve Board on Wednesday announced an enforcement action against Citigroup Inc. of New York, New York, that requires the firm to correct several longstanding deficiencies. In particular, the cease and desist order requires Citigroup to enhance its firm-wide risk management and internal controls. Among other things, the firm has not taken prompt and effective actions to correct practices previously identified by the Board in the areas of compliance risk management, data quality management, and internal controls. The Board's action applies to the bank holding company and is being taken in conjunction with a separate action from the Office of the Comptroller of the Currency, which oversees the national bank. For media inquiries, call 202-452-2955. Attachment (PDF) Related Content Board Votes

Federal Reserve (2020, October 6). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20201007_federal_reserve_board_announces_approval_of

@misc{wtfs_press_release_20201007_federal_reserve_board_announces_approval_of,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2020},
  month = {Oct},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20201007_federal_reserve_board_announces_approval_of},
  note = {Retrieved via When the Fed Speaks corpus}
}