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NEWS: Citigroup hit with fines of $136m for ‘insufficient progress’ in fixing compliance failures 

FILE PHOTO: Citigroup CEO Jane Fraser attends a U.S. House Financial Services Committee hearing titled “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks” on Capitol Hill in Washington, U.S., September 21, 2022. REUTERS/Elizabeth Frantz/File Photo

By Paul O’Donoghue

Citigroup has been hit with a pair of fines by U.S. regulators totaling just under $136 million due to a lack of progress in addressing various compliance issues.

The Federal Reserve and the Office of the Comptroller of the Currency (OCC) imposed penalties of $60.6 million and $75 million respectively.

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