Reported 6 days ago
The Federal Reserve has officially terminated a money laundering enforcement action against Citigroup that was initiated in 2013 due to the bank's inadequate anti-money laundering practices. The action did not result in any penalties, but required Citigroup and its Banamex subsidiary to enhance their compliance efforts. Citigroup's plans to separate Banamex from its operations are set to take place in late 2024.
Source: YAHOO