Citi Bank is running out of control. This Federal Reserve cease and desist order was made against the bank just two days ago.
https://www.federalreserve.gov/newsevents/pressreleases/files/enf20201007a1.pdf
after receiving this civil consent penalty of $400 million from the OCC for unspecified breaches of banking laws and regulations.
https://www.occ.gov/static/enforcement-actions/ea2020-057.pdf
The Fed publicly tells everyone that the US banks are a source of strength during this crisis while secretly they are fined and forced onto very very short banking compliance leads while they get investigated for unspecified breaches of banking laws and regulations. It's lies, moral hazard and the denial of the truth and facts all around. Societies can only operate for so long in a state of perpetual chaos and madness before something gives.Esh
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