The Fed scolded Deutsche Bank for money-laundering protections, new report says
Ben Winck
Business Insider, 14 May 2020
The Federal Reserve recently lambasted Deutsche Bank for loose controls as the firm looks to overhaul its reputation, The Wall Street Journal reported Thursday, citing a person familiar with the matter.
The central bank notified Deutsche Bank in a letter that it had ongoing concerns about the firm’s US money-laundering protections, according to the report. The Fed also criticized the company for not resolving issues that led to its “troubled condition” classification in 2017.
