Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Citibank N.A.
Current Parent Company: Citigroup
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $75,000,000
Year: 2024
Date: July 10, 2024
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The Office of the Comptroller of the Currency issued an amendment to its October 7, 2020, Cease and Desist Order against Citibank, N.A, Sioux Falls, South Dakota related to deficiencies in enterprise-wide risk management, compliance risk management, data governance, and internal controls. The OCC also assessed a $75 million civil money penalty against Citibank based on the bank's violations of the 2020 Order and lack of processes to monitor the impact of data quality concerns on regulatory reporting.
Level of Government: federal
Action Type: agency action
Agency: Office of the Comptroller of the Currency
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.