Citigroup Working on Paperwork for Regulators to Lift Consent Orders
Citigroup (C:NYSE) is preparing paperwork to submit to regulators in an effort to have its consent orders lifted, according to a Reuters report citing sources familiar with the matter. The bank has been working toward presenting a comprehensive audit to the Federal Reserve as part of this process. Consent orders are regulatory agreements that impose restrictions and requirements on financial institutions following violations or concerns raised by regulators. Citigroup's initiative reflects its ongoing efforts to address past issues and regain full operational flexibility under federal oversight.
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Topics: audit Citigroup compliance Federal Reserve