Business & Finance

Reuters reveals Citigroup submits multiyear plan to address Fed concerns

16 September 2022, 7:57 pm 1 minute

Reuters exclusively revealed that Citigroup has submitted a comprehensive multiyear plan to the Federal Reserve and the Office of the Comptroller of the Currency outlining steps to fix weaknesses in its risk management and internal controls. Sources said the plan aims to address a 2020 directive from the Fed demanding that the bank correct several “longstanding deficiencies” in its internal controls.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Equities

Regions: North America

Countries: US

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

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