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Citibank To Pay $30 Million Fine Over Real Estate Violations

Saturday, October 12, 2019, 4:17 PM

Citibank has agreed to pay a $30-million (23.7 million pounds) fine to settle charges of repeated violations of real estate holding rules and for failing to meet its commitment to take corrective actions, the US 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.