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Appeals Court Rejects Citigroup Whistleblower's Bid For Share In $400M Fine: Report
Yesterday, a federal appeals court reportedly ruled that Citigroup Inc. (NYSE:C) vice president is not entitled to a portion of the $400 million civil fine the bank agreed to pay in October 2020 due to its risk management failures.
The 2nd U.S. Circuit Court of Appeals in Manhattan ruled that Tamika Miller did not prove her whistleblowing on Citigroup’s audit report alterations warranted a share of the $400 million penalty, which resulted from the bank’s settlement with the Federal Reserve and the OCC, reported Reuters.
Miller argued that Citigroup’s actions breached its $700 million 2015 settlement with the Consumer Financial Protection Bureau over its credit card business and its $35 million ...