U.S. Bancorp hit with $800 million in fines for poor compliance with anti-money-laundering laws

Federal regulators on Thursday hit U.S. Bancorp, the nation’s biggest regional bank, with more than $800 million in fines for deficient anti-money laundering practices. The Justice Department announced a deferred prosecution with U.S. Bancorp related to the Bank Secrecy Act. Separately, the Federal Reserve ordered the Minneapolis-based bank to improve compliance with anti-money laundering laws.

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From:: Stock Market News

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