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Company News

Citigroup fined by U.S. regulators for 'longstanding deficiencies'

WASHINGTON, Oct 7 (Reuters) - A pair of U.S. bank regulators ordered Citigroup Inc to clean up “several longstanding deficiencies” in a new enforcement order against the bank.

The order, from the Federal Reserve and Office of the Comptroller of the Currency, say the bank must overhaul its firm-wide risk management and internal controls, adding the firm has not taken effective actions to identify issues previously raised by regulators. (Reporting by Pete Schroeder Editing by Chris Reese)

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