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NEWS: Citigroup submits plans to officials outlining new strategies to improve weaknesses

By Elizabeth Hearst for AMLi

Citigroup has submitted detailed plans to the US Federal Reserve and the Office of the Comptroller of the Currency detailing its strategy to bolster its risk management and internal controls. 

The plans outline the group’s aims to address a two-year-old Federal Reserve directive which highlighted “longstanding deficiencies” in its internal controls, reports Reuters. 

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