Citi Fined $136 Million for Failing to Fix Regulatory Issues (2)

Citigroup Inc. will pay almost $136 million in fines to US bank regulators over issues related to data-quality management and risk controls.

The Federal Reserve said Wednesday that its penalty was for Citi violating an enforcement action from 2020. The bank will pay $61 million to the Fed and about $75 million to the Office of the Comptroller of the Currency.

“Citigroup has made insufficient progress remediating its problems with data-quality management and failed to implement compensating controls to manage its ongoing risk,” the central bank said in a statement.

Citi didn’t admit or deny the allegations. The bank is ...