CU Bancorp Unit Issued Consent Order by FDIC, State of Calif.
Source: BFW (Bloomberg First Word)
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CUNB US (CU Bancorp)
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UUID: 7947283
(Bloomberg) -- CU Bancorp says order relates to weaknesses in Bank Secrecy Act and Anti-Money Laundering compliance; sees order leading to additional compliance expenses.
Alert: HALISTER1- Under terms of Consent Order, bank to increase board supervision of BSA compliance program, notify regulatory agencies prior to appointment of new BSA officer, formulate a written action plan
- CUNB unit California United Bank didn’t admit/deny charges of unsafe/unsound practices
- Consent Order does not require bank to pay any civil money penalty or require additional capital
Source: BFW (Bloomberg First Word)
Tickers
CUNB US (CU Bancorp)
To de-activate this alert, click here
UUID: 7947283