Citi pays $30 million fine to settle real-estate violations: regulator

India Today | Oct 12, 2019 at 3:19 AM
  • Citibank has agreed to pay a $30 million fine to settle charges of repeated violations of real estate holding rules and for failing to meet its commitment to take corrective actions, the U.S. Office of the Comptroller of the Currency (OCC) said on Friday.
  • Federal law limits the time a national bank may hold foreclosed and other real estate owned (OREO) assets.
  • As a result, between 2017 and 2019, the bank committed over 200 violations in South Dakota related to the statutory holding period for OREO assets.