FDIC Levies $140 Million Penalty Against Banamex USA

Citigroup said it would close Banamex USA, and pay $140 million to regulators who alleged the unit did not correct weaknesses identified in 2012 in its anti-money laundering programs.

The fine of $140 million imposed by the FDIC includes $40 million in civil penalties to be paid to California’s Department of Business Oversight.

FDIC’s $140 million penalty against Banamex USA

As part of its purchase of Banco Nacional de Mexico, Citigroup acquired what was then called California...

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