Fed announces cease and desist order against U.S. operations of Deutsche Bank AG; fines firm $41 mil

[MelissaB]

Federal Reserve Board announces $41 million penalty and consent cease and desist order against Deutsche Bank AG

The Federal Reserve Board on Tuesday announced a $41 million penalty and consent cease and desist order against the U.S. operations of Deutsche Bank AG for anti-money laundering deficiencies.

The actions were taken by the Board to address unsafe and unsound practices at the firm's domestic banking operations. The Board identified failures by Deutsche Bank's U.S. banking operations to maintain an effective program to comply with the Bank Secrecy Act and anti-money laundering laws.

The consent order requires Deutsche Bank to improve its senior management oversight and controls related to compliance by the U.S. banking operations with anti-money laundering laws.

More: https://www.federalreserve.gov/newsevents/pressreleases/enforcement20170530a.htm

[Historic NY]

1. Humm does the leader have loans with them too...Oh Yeah....

http://www.motherjones.com/politics/2017/05/trump-deutsche-bank-loans-russia

[KeepItReal]

2. El Chapo is in jail while his moneymen and women party on in freedom

SMH

[onethatcares]

3. what was their total take?

for the money laundering. 41 million is not that big a deal to Deutsche Bank, not that big at all.

Now, if you happened to be a homeless guy that grabs a loaf of bread off the shelf at wally world and runs outside to eat it, boy, you're gonna get some time.

"improve senior management oversight.............." what a fuckin crock of shit.