On May 22, 2024, Plaintiff Kathleen Martin has filed a wrongful termination and retaliation claim against Citibank and its Chief Operating Officer (“COO”) Anand Selva.
In 2020, the Office of the Comptroller of Currency (“OCC”) assessed an enormous $400 million penalty against Citi because of the Bank’s “serious and longstanding” unlawful data governance practices. The Bank also entered into a binding Consent Order with the regulator setting forth specific remedial measures to cure its legally deficient practices.
To that end, in late 2021, Citi recruited Ms. Martin to help the Bank revamp its data processes and avoid further legal jeopardy. Ms. Martin is a data governance expert who has worked with some of the top financial institutions and was the right person for the job. According to the Bank’s internal documents, Ms. Martin was an “exemplary” performer who “exceed[ed] expectations.” Even Jane Fraser, Citi’s Chief Executive Officer (“CEO”), gushed over Ms. Martin’s work, stating that she had received “terrific feedback” about Ms. Martin, and praising Ms. Martin’s “gravitas” and her ability to build “strong relationships” at the Bank.
That all changed when Ms. Martin protested Citi’s attempts to file false information with regulators. Ms. Martin’s boss and Citi’s COO Mr. Selva wanted Ms. Martin to hide critical information from the OCC about the Bank’s data governance metrics because, according to Mr. Selva, the information would make the Bank “look bad.” Mr. Selva also urged Ms. Martin to falsely tell the regulators that Citi had achieved particular goals when, in fact, it had not. The more she pushed back against this unlawful activity, the worse things got.
Ultimately, the Bank fired Ms. Martin in retaliation for her protected complaints.
The Complaint can be read here.
Statement from Wigdor attorney Valdi Licul:
“Ms. Martin at all times acted to protect Citi’s interests by objecting to reporting false information. Unfortunately, Citi decided to punish Ms. Martin for doing the right and ethical thing. We look forward to holding Citi responsible for this unlawful behavior.”
Any questions can be directed to attorney Valdi Licul (vlicul@wigdorlaw.com) or Communications Manager Courtney Cormican (ccormican@wigdorlaw.com).