Sen. Elizabeth Warren urged limitations on Citi's growth, citing unresolved data issues that cast doubt on the bank's management, famously calling it 'too big to manage'.
Citi's CEO Jane Fraser maintained that the bank does not have an asset cap, asserting that no further measures are being imposed beyond previously announced ones regarding compliance.
Citi's financial results exceeded Wall Street expectations, yet the ongoing scrutiny over regulatory compliance has led to deeper questions regarding the bank's transformation efforts.
Despite significant funding toward technology upgrades, Citi’s progress on fixing its data management issues remains under scrutiny, raising doubts about long-term regulatory compliance.
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