FDIC Levies $140 Million Penalty Against Banamex USA

Citigroup said it would close Banamex USA, and pay $140 million to regulators who alleged the unit did not correct weaknesses identified in 2012 in its anti-money laundering programs.

The fine of $140 million imposed by the FDIC includes $40 million in civil penalties to be paid to California’s Department of Business Oversight.

FDIC’s $140 million penalty against Banamex USA
As part of its purchase of Banco Nacional de Mexico, Citigroup acquired what . . .


This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here

If you are subscribed and having an account error please clear cache and then cookies if that does not work email and we will get back to you as quick as humanly possible

Saved Articles

Are you a smart investor? Join tens of thousands of sophisticated investor reading our authoritative free newsletter

* indicates required

Congrats! Are you a smart person?

We have an exclusive targeted for being a sophisticated and loyal reader.

Sign up for ValueWalkPremium today and get our exclusive content for 35% off.

Use coupon code vip19 or click on the button below

Limited time offer only ENDS 11/30/2019 or after next 25 12 subscribers take advantage whichever comes first – please do not share this discount with others