Citigroup accused by US banking regulators of data mishandling in ‘living will’ review

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Citigroup accused by US banking regulators of data mishandling in 'living will' review
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Citigroup CEO Jane Fraser testifies during a hearing before the House Financial Services Committee at the Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC.

Alex Wang | Getty Images

Citigroup must address weaknesses in its data handling, according to a review of the biggest banks’ so-called living will plans, U.S. banking regulators said on Wednesday.

Citigroup was the only bank among the eight institutions examined that had a gap in its plan, the Federal Reserve and the Federal Deposit Insurance Corporation said in a statement.

This story is developing. Please check for updates.

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