Citigroup

Reasons to avoid

1. The Federal Reserve and OCC fined Citigroup $400 million in 2020 for severe deficiencies in risk management, data governance, and internal controls.occ.gov2020-10-07
2. Regulators imposed an additional $136 million in penalties in 2024 for failing to fix the same compliance problems identified in 2020 — totaling over half a billion in fines for the same unresolved issues.radicalcompliance.com2024-07-11
3. UK regulators fined Citibank £62 million ($82.8M) in May 2024 for failing to catch a $1.4 billion erroneous trade, citing inadequate trading controls.americanbanker.com2024-05-01
4. New York Attorney General Letitia James sued Citibank in January 2024, alleging the bank failed to protect customers from wire fraud and then illegally denied reimbursement to victims who lost millions. A federal judge allowed the lawsuit to proceed in January 2025.ag.ny.gov2025-01-21
5. Since the 2015 Paris Agreement, Citigroup has funneled an estimated $396 billion into coal, oil, and gas — ranking it among the top 10 largest fossil fuel financiers globally.bank.green2024-01-01
6. Citigroup is the top bank financing Amazon oil and gas operations, with an estimated $42 billion in active or recently matured deals — projects linked to deforestation and Indigenous rights violations.sec.gov2024-01-01