Pennsylvania-based Customers Bancorp avoided a fine but was ordered to revamp and strengthen its anti-money laundering (AML), sanctions, and Bank Secrecy Act (BSA) compliance programs after finding “significant deficiencies,” the Federal Reserve Board announced.
Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:... More by Aaron Nicodemus
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