Fed announces enforcement action against Customers Bancorp for risk management deficiencies

Customers Bancorp

08/08/2024 16:00

WASHINGTON, Aug 8 (Reuters) - The US Federal Reserve
announced Thursday it had imposed an enforcement action against
Customer Bancorp for "significant deficiencies" around the
bank's risk management and anti-money laundering practices.
    The enforcement action against the bank, which provides
digital asset services and a tokenized instant payments
platform, stemmed from a recent examination by the Fed, the
central bank said. 

 (Reporting by Pete Schroeder, Editing by Franklin Paul)
 ((Pete.Schroeder@thomsonreuters.com; 202-310-5485;))