Citi Fined $400M Over Faulty Risk Management Systems
PYMNTS
OCTOBER 7, 2020
bank to fix the "significant ongoing deficiencies" in its risk management systems, The Wall Street Journal (WSJ) reported. In a consent order which Citi's board agreed to, the bank was chastised for failing in various areas of risk management and internal controls. According to WSJ, the bank failed at data management, regulatory reporting and capital planning. Regulation Citigroup News regulations risk management What's Hot
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