Mon, 09/14/2020 – 14:46
Just days after making history by appointing the first woman to lead a major Wall Street megabank, Citigroup is seeing its shares tumble after WSJ reported that the company is facing a federal reprimand for failing to fix its risk-management systems.
The company’s shares tumbled on the news.
WSJ also reported that CEO Michael Corbat’s departure was moved up because of the expected rebuke, which comes courtesy of the Office of th Comptroller of the Currency and the Federal Reserve.
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Author: Tyler Durden
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