Citigroup’s Legal Expenses Reach $2.7 Billion
Citigroup announced this week that it has set aside $2.7 billion to cover legal costs for the fourth quarter in connection with several ongoing regulatory investigations. “We believe these legal charges should cover a significant portion of our outstanding legal matters based on current information,” Citigroup CEO Michael Corbat said. ...
Related articles
-
News BriefSEC exam priorities for 2026 signal heightened focus on firmwide compliance
The U.S. Securities and Exchange Commission’s (SEC) Division of Examinations released its 2026 examination priorities, which give companies a roadmap of areas of heightened risk and regulatory focus for next year.
-
ArticleSan Francisco firm pays $11.4M for alleged Russia-related sanctions violations
A San Francisco-based private equity firm has agreed to pay $11.4 million to settle allegations it violated U.S. sanctions rules by handling investments for a sanctioned Russian oligarch.
-
ArticleCompany agrees to report to FTC for 10 years for alleged student data lapses
A tech company that stores student information for schools has agreed to implement a data security program and report to the Federal Trade Commission for 10 years, after security failures led to data for 10 million students being breached.