Citi clears another regulatory hurdle to fix longstanding problems
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Citigroup announced that the U.S. Office of the Comptroller of the Currency has withdrawn a 2024 amendment to a 2020 consent order, marking progress in addressing longstanding compliance issues. The original order, which remains, requires the bank to improve operational and risk management. This follows the Federal Reserve closing notices on trading risk management weaknesses. The bank was fined $400 million in 2020 and an additional $136 million in 2024 for persistent issues.
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