Citigroup faulted by U.S. banking regulators for poor data management in ‘living will’ review

CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC.

Alex Wong | Getty Images

Citigroup needs to address weaknesses in how it manages data, according to a review of the biggest banks’ so-called living will plans, U.S. banking regulators said Wednesday.

Citigroup was the only bank among the eight institutions reviewed that was found to have a shortcoming in its plan, the Federal Reserve and the Federal Deposit Insurance Corporation said in a release.

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