US authorities fined Citibank $400 million over deficiencies in risk management practices and required an overhaul of internal controls at the global financial powerhouse, officials announced Wednesday. The US Treasury's Office of the Comptroller of the Currency issued the fine, in parallel with a related action from the Federal Reserve citing failings at the bank. The Fed said the crackdown reflected that Citi had "not taken prompt and effective actions to correct practices previously identified by the Board in the area of compliance risk management, data quality management and internal controls." jmb/hs