# Citigroup Prepares Regulatory Submissions to Lift 2020 Consent Orders

- URL: https://stocks.freetheai.org/news/citigroup-prepares-regulatory-submissions-to-lift-2020-consent-orders-82a6bf
- Published: 2026-10-12T12:02:14Z
- Category: regulation; sentiment: bullish; impact: medium
- Symbols: [NYSE:C](https://stocks.freetheai.org/symbols/NYSE-C)
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Citigroup Inc. (NYSE:C) is preparing documentation to request that regulators lift enforcement consent orders tied to past risk management and governance deficiencies. The bank aims to submit a comprehensive audit to the Federal Reserve and the Office of the Comptroller of the Currency. Shares of Citigroup were trading up 1.22% at $129.60 following the update.

The consent orders date back to October 7, 2020, when federal regulators required the firm to upgrade its internal controls, compliance systems, data quality management, and risk governance. Citibank was also assessed a $400 million fine as part of that enforcement action.

If regulators approve the comprehensive audit, Citigroup plans to wind down part of its internal remediation operations. Investors will be watching for the formal filing, which is targeted for submission before the end of the year or during the first quarter.

## Key points

- Citigroup Inc. (NYSE:C) is preparing paperwork to request the removal of regulatory consent orders.
- The bank plans to submit a comprehensive audit to the Federal Reserve and the Office of the Comptroller of the Currency.
- Target submission timing is set for before the end of the year or during the first quarter.
- The 2020 orders required fixes in risk management, compliance, data quality, and internal controls alongside a $400 million fine.
- Approval of the audit will allow Citigroup to wind down part of its remediation structure.

## Questions and answers

### Why is Citigroup submitting paperwork to regulators?

Citigroup is preparing to submit a comprehensive audit to request that regulators lift consent orders issued in 2020 regarding risk management and internal controls.

### Which regulators are overseeing Citigroup's consent orders?

The Federal Reserve and the Office of the Comptroller of the Currency oversee the consent orders, which were issued on October 7, 2020.

### When will Citigroup submit its audit to regulators?

The bank targets submitting the required paperwork and audit before the end of the year or during the first quarter.