Fed Removes Enforcement Action on State Street
The Federal Reserve has lifted an enforcement action it placed on State Street (NYSE: STT) back in 2015 after it found deficiencies with the bank's compliance risk management program, the agency said today.
Specifically, the deficiencies were found regarding internal controls, customer due diligence procedures, and transaction monitoring processes related to the bank's anti-money-laundering (AML) and Bank Secrecy Act (BSA) systems.
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Source Fool.com
