- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-09-21T16:39:00
MUFG Union Bank, which has entered into agreement to be acquired by U.S. Bank, received a cease-and-desist order from the OCC for “unsafe or unsound practices regarding technology and operational risk management.”
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The Office of the Comptroller of the Currency announced a $15 million civil penalty against MUFG Union Bank for “deceptive practices” caused by alleged weaknesses in execution of internal controls and procedures.
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