Citi Prepares Audit to Lift Regulatory Orders
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AI-assisted source synthesis · not an independent investigation.
Citi has been subject to regulatory orders since 2020, requiring it to improve its technology and processes. Previously, Citi mistakenly wired $900 million to the creditors of a company; in July 2024, the bank was also fined $136 million. A report dated October 12, 2026, said that Citi plans to submit an internal audit to the U.S. Federal Reserve and the Office of the Comptroller of the Currency no later than the first quarter of 2027, seeking to lift the regulatory orders and shift its business focus toward growth.
AI-written from reports · updated 7 days ago
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- PYMNTSCiti prepares to submit audits, seeking to lift regulatory order and accelerate growth
Citi plans to submit internal audits to the Federal Reserve and OCC no later than the first quarter of 2027, seeking to lift the regulatory order that has been in effect since 2020 and shift its focus to growth. The regulatory order requires it to improve its technology and processes; Citi mistakenly sent $900 million to the company’s creditors and was fined $136 million again in July 2024.
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