Fed drops 2013 money laundering enforcement action against Citigroup By Reuters

WASHINGTON (Reuters) – The Federal Reserve said on Tuesday it had ended an enforcement action it filed in 2013 against Citigroup over deficiencies in its ability to control money laundering.

The enforcement action, which did not involve a fine, was filed against the bank and its former subsidiary Banamex for deficiencies in the firms’ anti-money laundering programs and ordered the company to strengthen its efforts and update regulators on his progress.