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Citigroup to pay $135.6 million penalty in US for data-quality management, 'persistent' weaknesses in violation of 2020 order

By Neil Roland ( July 10, 2024, 23:10 GMT | Insight) -- Citigroup, the third largest US bank by assets, was fined $135.6 million by two federal agencies for persistent deficiencies in data-quality management and other internal control and risk-management issues, in violation of a 2020 order. The other violations that were to be addressed under the earlier order include company-wide risk management, internal controls and liquidity risk-management.Citigroup, the third largest US bank by assets, was fined $135.6 million by two federal agencies for persistent deficiencies in data-quality management and other internal control and risk-management issues, in violation of a 2020 order....

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