31/7/2024, 8:23:02 pm

Citigroup Repeatedly Breached Fed Rules for Interbank Loans

Citigroup Inc. is working to fix compliance issues linked to Regulation W, which protects customers' insured deposits, according to a person familiar with the matter. The bank breached the regulation repeatedly, repeatedly breaching the Federal Reserve's Regulation W, and agreed to pay $136 million in fines for not making sufficient progress on resolving issues.