3 Questions Dogging Citigroup
Citigroup (NYSE: C) generated its largest profit of the year in the third quarter, but that did little to appease analysts, who spent much of the bank's earnings call questioning the bank about its recent consent order from federal regulators.
The order required Citigroup to pay a $400 million civil penalty for the bank's failure to address deficiencies with its internal controls related to compliance, data, and risk management. The bank will also need to get approval from the U.S. Office of the Comptroller (OCC) for any business or portfolio acquisitions. The order leaves the bank in a tight spot because it will need to spend time and money to correct the issues at a time when most banks are likely looking to cut expenses to help offset the margin compression caused by low interest rates.
Here are three questions dogging Citigroup.
Source Fool.com
