Treasury’s Financial Crimes Enforcement Network said the bank admitted it had failed to maintain effective controls in a check-cashing business.
The Treasury Department on Friday said it fined Capital One Financial Corp. for “willfully failing to implement and maintain” effective anti-money-laundering controls. As part of the settlement, Capital One admitted that it “willfully failed to file thousands of suspicious-activity reports,” according to the Treasury’s Financial Crimes Enforcement Network. The allegations pertain to a check-cashing group that Capital One acquired when it bought North Fork Bank in 2006.
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Christopher J. Meade is a member of BlackRock’s Global Executive Committee. He is the General Counsel and Chief Legal Officer of BlackRock. Before joining BlackRock, Mr. Meade was the General Counsel of the U.S. Department of the Treasury. Before joining Treasury, Mr. Meade was a partner with the law firm of Wilmer Cutler Pickering Hale and Dorr, where he was a member of the Litigation and Securities Departments. He received his A.B. from Princeton University, magna cum laude, and his J.D. from NYU Law School, magna cum laude, where he was the Editor-in-Chief of the Law Review.