BRIEF-US OCC assesses $65 million penalty against City National Bank

Office of the Comptroller of the Currency:

* U.S. OCC SAYS IT ASSESSES $65 MILLION PENALTY AGAINST CITY NATIONAL BANK

* OCC SAYS PENALTY AGAINST CITY NATIONAL BANK, OF LOS ANGELES, CALIFORNIA, WAS RELATED TO SYSTEMIC DEFICIENCIES IN RISK MANAGEMENT, INTERNAL CONTROLS Source: https://www.occ.treas.gov/news-issuances/news-releases/2024/nr-occ-2024-8.html