We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

US Bank To Pay $613M For Faulty Money Laundering Program

Law360 (February 15, 2018, 10:38 AM EST) -- U.S. Bank on Thursday agreed to pay $613 million as part of a deferred prosecution agreement with federal prosecutors and bank regulators over alleged failings of its anti-money laundering programs, including an effort to hide those deficiencies from its regulator and processing transactions for disgraced payday lending mogul and race car driver Scott Tucker.

  U.S. Bank agreed Thursday to settle claims from federal prosecutors and watchdogs that it didn't beef up its anti-money launder efforts and attempted to hide that from regulators. (AP) Minneapolis-based U.S. Bank,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.