11:22 AM EDT, 10/03/2024 (MT Newswires) -- (Updates with reply from the Office of the Comptroller of the Currency in the fourth paragraph.)

Citigroup's ( C ) struggles to fix regulatory issues have prompted US Senator Elizabeth Warren to urge Acting Comptroller of the Currency Michael Hsu to impose growth limitations on the bank, Reuters reported Thursday.

Warren wrote in a letter to Hsu that Citigroup's ( C ) years-long attempts to fix data, controls and other management issues show that the bank has become "too big to manage," Reuters reported.

"It is clearly time to protect the American financial system by imposing growth restrictions on Citi," Warren said, according to the report.

Spokespersons from Citigroup ( C ) and the Office of the Comptroller of the Currency declined to comment in reply to requests sent by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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