OCC Announces Enforcement Actions for July 2024 — 2024-07-18

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises. The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the deficient practices or violations identified. Actions taken against banks are: Amended Cease and Desist Order and Civil Money Penalty against Citibank, N.A., Sioux Falls, South Dakota, for the failure to make sufficient and sustainable progress towards compliance with and violations of an October 7, 2020, Cease and Desist Order. The assessed civil money penalty is $75 million. (Amendment to Docket No. AA-EC-2020-64 and Docket No. AA-ENF-2024-51).