Citigroup will pay $135.6 million in fines levied by two banking regulators for repeated failures to remediate deficiencies in risk management, data governance, and internal controls.

The Treasury Department’s Office of the Comptroller of the Currency (OCC) announced a $75 million fine Wednesday against Citi for failing to meet remediation milestones set out in a 2020 consent order, while in a concurrent action the Federal Reserve Board announced a $60.6 million penalty for violating its 2020 consent order.

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Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...