The Bancorp has appointed Sepideh Behram to chief compliance officer, as the company works to revamp its compliance and risk program after resolving a settlement with the Federal Deposit Insurance Corporation in December.

Prior to joining The Bancorp, Behram served as vice president of global compliance and ethics for global corporate payments at American Express and as chief compliance officer at Travelex Global Business Payments. She also served as the senior compliance counsel in the Center for Regulatory Compliance Section of the American Bankers Association (ABA), overseeing regulatory efforts in anti-money laundering (AML) and Bank Secrecy Act matters.

In her new role, the company said "Behram will oversee the organization’s entire compliance risk management program, ensuring best-in-class consumer protection within The Bancorp and among its third-party partners and service providers."

In December 2015, the bank reached a settlement with the FDIC for unfair and deceptive practices in violation of Section 5 of the Federal Trade Commission Act. Under the FDIC Orders, The Bancorp has agreed to pay civil monetary penalty of $3 million and an estimated $1.3 million in restitution to approximately 21,000 harmed customers.

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