WASHINGTON (Reuters) – The U.S. Federal Reserve announced Wednesday that it had fined Deutsche Bank and its U.S. affiliates $186 million for making insufficient progress addressing prior shortcomings flagged by the regulator, including money laundering controls.
The Fed said the bank had not yet addressed issues identified in 2015 and 2017 consent orders, and had deficient controls relating to its prior relationship with the Estonian branch of Danske Bank.
The Fed also imposed a separate set of restrictions on the bank, ordering it to address shortcomings around its risk and data management.
(Reporting by Pete Schroeder)
