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Citigroup Hit With $400 Million Fine Over AML Failures That Led To Mike Corbat's Downfall

Zero Hedge

After Citi announced that Corbat would be replaced by Jane Fraser, who will soon become the first CEO of an American megabank, it was revealed that the Office of the Comptroller of the Currency was preparing to fine Citigroup for compliance failures that had apparently become part and parcel of Corbat's executive blindness - an issue he had neglected, that ultimately lead to his downfall - or at least that's what ...

Mentions: Citigroup Bloomberg stock options