Customers Bancorp dives after Federal Reserve slaps enforcement action

Customers Bancorp

08/08/2024 16:29

** Shares of regional lender Customers Bancorp  CUBI.N  fall
11.9% to $47.79
    ** U.S. Federal Reserve imposes enforcement action against
CUBI for "significant deficiencies" around its risk management
and anti-money laundering practices
    ** CUBI's offerings include providing digital asset services
and a tokenized instant payments platform
    ** Enforcement action stems from Fed's most recent
examinations and inspection of CUBI
    ** Stock down 16.7% YTD 

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))