Fed terminates 2013 money-laundering enforcement action against Citigroup By Reuters

WASHINGTON (Reuters) – The Federal Reserve announced on Tuesday that it had terminated a 2013 enforcement action it filed against Citigroup over shortcomings in its capacity to police money laundering.

The enforcement action, which did not carry out a fine, was filed against the bank and its former Banamex subsidiary over deficiencies in the firms’ anti-money laundering programs, and ordered the firm to strengthen its efforts and update regulations on its progress.