WASHINGTON (Reuters) – The Federal Reserve revealed on Tuesday that it had actually ended a 2013 enforcement activity it submitted versus Citigroup over drawbacks in its ability to police cash laundering.
The enforcement activity, which did not lug a penalty, was submitted versus the financial institution and its previous Banamex subsidiary over shortages in the companies’ anti-money laundering programs, and purchased the company to enhance its initiatives and upgrade regulatory authorities on its development.
(Reporting by Pete Schroeder; Editing by Chris Reese)
