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Regulators Fine Citigroup $400 Million Over ‘Serious Ongoing Deficiencies’

“Federal banking regulators on Wednesday fined Citigroup Inc. $400 million and ordered the nation’s third-largest bank to fix its risk-management systems, citing “significant ongoing deficiencies.” In a consent order agreed to by the New York bank’s board, the Federal Reserve faulted Citigroup for falling short in “various areas of risk management and internal controls” including […]