Citigroup Seeks Swift End to US Regulatory Orders
Citigroup is pressing to resolve long-standing US regulatory demands by early next year to lift consent orders and refocus on business growth. The bank aims to submit a comprehensive audit to federal regulators soon to address past risk management and data governance issues.
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CITIGROUP INC is aiming to submit paperwork to United States regulators by late evening in a bid to resolve consent orders that have lingered since 2020. The third-largest bank in the country spent $3.3B on transformation work last year to fix risk management and data governance problems. Resolving these demands could free up resources, boost the stock, and lift the bank's wealth management and retail businesses.
