United States:
FRB Fines Bank For Inadequate Notarization Procedures
20 August 2018
Cadwalader, Wickersham & Taft LLP
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The Federal Reserve Board ("FRB") fined a bank holding company for alleged
improper execution of residential mortgage-related documents.
According to the Order, CitiGroup Inc. consented to an
assessment of a civil money penalty of $8.6 million for the
deficient execution and notarization of certain mortgage-related
affidavits prepared by CitiFinancial, a subsidiary of CitiGroup
Inc. The alleged misconduct occurred between January 2015 and
August 2015 and was thereafter corrected.
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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