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Citigroup’s chief executive officer, Jane Fraser, said the company “worked very hard” to remediate the issues identified in OCC’s consent order, Bloomberg reported.
In the original order issued in 2012, the U.S. bank regulator said https://www.reuters.com/article/financial-regulation-citibank-idINDEE8340DR20120405 Citigroup unit Citibank had violated requirements that it maintain an adequate compliance program and file reports on suspicious activity.
The OCC had said among the problems it found were that Citibank had trouble tracking “high risk” customers’ interactions with different parts of the bank.
Citigroup and the OCC did not immediately respond to Reuters’ requests for comment outside business hours.
