Citibank pays $30 million fine to settle real-estate violations
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 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. Image source: Reuters