Regulators Fine Citigroup $136 Million Over 2020 Risk Order

NEW YORK, NEW YORK - MARCH 01: A sign for CitiBank is seen on a window in Manhattan on March 01, 2024 in New York City. According to filings with the State Labor Department, Citigroup is cutting nearly 300 workers in New York. In early January, the financial company announced that it would be cutting 20,000 roles as part of a reorganization effort. Photo by Spencer Platt/Getty Images

Regulators have fined Citigroup a combined $135.6 million, saying the lender failed to make enough progress in resolving internal data management and risk issues.

In a July 10 statement, the Federal Reserve Board said it fined Citigroup $60.6 million for failing to fulfill a 2020 order obliging the bank to fix the issues and implement controls to manage ongoing risks.