Citigroup (C) said Thursday that the Office of the Comptroller of the Currency has withdrawn a 2024 amendment to a 2020 consent order that required the bank to submit a resource review process to the regulator.

The 2024 amendment had required Citi to show it was committing sufficient resources to address its deficiencies, or risk potential limits on capital distributions such as dividends, Reuters reported.

The original 2020 consent order remains in effect and requires the bank to address longstanding operational, data management, and risk control issues after regulators found limited progress.

"Our Transformation has been our number one priority, and we are dedicating the resources necessary to modernize our systems and strengthen our risk and control environment," Citigroup said.