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US Senator Elizabeth Warren has called on regulators to impose growth restrictions on Citigroup due to the bank's prolonged struggle with data, controls, and other management issues. On October 3, Warren, a prominent Democratic senator, expressed concerns that Citigroup has become 'too big to manage' and highlighted ongoing regulatory problems as the basis for her request. This call for action comes as Citigroup faces scrutiny over its ability to address these persistent issues. Citigroup's stock was down -0.4% pre-market following the news.
Elizabeth Warren said today in a letter to regulators that Citi's $C years-long struggle to fix data, controls and other management problems show it has become "too big to manage" and should be curtailed - Reuters
US Senator Warren asks regulator to impose growth curbs on Citi https://t.co/Pw6Q5Icmqr https://t.co/kabU87ObOc
🔵 US SENATOR WARREN ASKS REGULATOR TO IMPOSE GROWTH CURBS ON CITI (Reuters) - A prominent Democratic U.S. senator called on a top regulator on Wednesday to impose growth restrictions on Citigroup as the Wall Street bank struggles to fix ongoing regulatory problems. In a… https://t.co/SMqqI75fx1
