Fed Admonishes Deutsche Bank for Ongoing Compliance Failures
Robert Schmidt and Jesse Hamilton, 29 May 2021
The Federal Reserve has privately told Deutsche Bank AG that its compliance programs aren’t up to snuff, signaling that the scandal-plagued bank is failing to adhere to a number of past accords with U.S. regulators, according to people familiar with the matter.
The Fed’s recent warning came in an annual regulatory assessment that said Deutsche Bank hadn’t improved its risk management practices despite being under confidential agreements with the central bank to fix the issues, the people said. The assessment letter has the German bank’s leaders bracing for potential sanctions, including the possibility of a large fine, said one person briefed on the matter. Continue reading “Article: Fed Admonishes Deutsche Bank for Ongoing Compliance Failures”
