Citigroup Fined $135.6 Million for Internal Control Failures
Citigroup faces a $135.6 million fine from regulators for failing to address internal control and risk issues. Despite some progress, the bank still faces penalties from the OCC and Fed. CEO Jane Fraser remains confident in Citi’s ability to reduce its risk profile amid ongoing transformation efforts.
New York Community Bancorp Shares Plummet 18% After Leadership Change and Internal Control Issues
New York Community Bancorp’s shares plunged 18% in after-hours trading due to a leadership change and internal control issues. The bank’s exposure to commercial real estate has added to its recent performance woes, leading to a 53% decline in shares year-to-date.