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Violation Tracker Individual Record

Company: City National Bank
Current Parent Company: Royal Bank of Canada
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $65,000,000
Year: 2024
Date: January 31, 2024
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: City National was fined for engaging in unsafe or unsound practices, including systemic deficiencies related to the bank's operational, compliance, investment management, and strategic risk management and internal controls.
Level of Government: federal
Action Type: agency action
Agency: Office of the Comptroller of the Currency
Civil or Criminal Case: civil
Facility State: California
Facility City: Los Angeles
HQ Country of Current Parent: Canada
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.