Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Burke & Herbert Bank & Trust Overhauls Compliance Program

Jaclyn Jaeger | September 30, 2014

Financial institution Burke & Herbert Bank & Trust is currently undergoing a serious overhaul to strengthen its compliance and internal control functions, under the terms of a recent consent order reached with the Federal Deposit Insurance Corporation.

According to the FDIC order, dated Aug. 21 and released publicly Sept. 26, the bank consented to changes relating to its compliance with the Bank Secrecy Act (BSA) “without admitting or denying any charges of unsafe or unsound banking practices or violations of law or regulation.” The order didn’t describe any wrongdoing, nor did it impose any financial penalties.

As required by the order, the bank established a new BSA officer position, which was filled by Amanda Pierson in July 2014. She joins the bank from WashingtonFirst, where she held a similar post since 2012.


Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.