Everyone makes mistakes, including big corporations. Unfortunately, when the largest global banks make them, those mistakes tend to have a lot of zeroes after them and create all sorts of embarrassing headlines. They also attract the interest of regulators who will question your institution's internal controls.
In the case of Citigroup (NYSE: C), a $900 million blunder it made last month has earned it the scrutiny of both the media and the government. And as Wells Fargo can attest, once you attract that kind of unwanted attention, it can eventually affect your ability to do business. Given that, management at Citi will want to quickly answer the question of how it's fixing the issues that allowed the error to occur.
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