Federal Reserve Board fines Citigroup $8.6 million for the improper execution of residential mortgag

Federal Reserve Bank press release -------- The Federal Reserve Board on Friday announced an $8.6 million fine against Citigroup for the improper execution of residential mortgage-related documents. The $8.6 million penalty addresses the deficient execution and notarization of certain mortgage-related affidavits prepared by a subsidiary, CitiFinancial. The improper practices occurred in 2015 and were corrected. CitiFinancial exited the mortgage servicing business in 2017. To learn more click on the picture below to read the release.