A former managing director at Citigroup is suing the bank and its COO for unlawful termination, claiming she was dismissed for refusing to provide regulators with false information.
Kathleen Martin, who joined Citigroup in 2021, alleges she was fired in September 2023 due to her complaints. In her lawsuit filed in a federal court in New York, she contends that COO Anand Selva instructed her to conceal “critical information” from the Office of the Comptroller of the Currency (OCC) regarding the bank’s data governance metrics to avoid damaging the bank’s reputation, according to reports from Reuters.
The information Martin was allegedly asked to alter pertains to a 2020 consent order from the OCC, which mandated that Citigroup resolve deficiencies in its risk management and data governance controls.
Martin’s attorney argues that she was acting in the best interest of the bank and is seeking reinstatement along with her salary, including bonuses. In response, a Citigroup spokesperson stated that the lawsuit is baseless and that they intend to defend against it.