BB&T announces termination of AML-related consent order
BB&T announces termination of AML-related consent order |
[29-June-2018] |
WINSTON-SALEM, N.C., June 29, 2018 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) today announced the Federal Deposit Insurance Corporation and the North Carolina Office of the Commissioner of Banks (NCCOB) have terminated their joint consent order with Branch Banking and Trust Company, related to the bank's anti-money laundering (AML) controls. No money laundering activity was identified and no financial penalty was levied.
The NCCOB also announced it has exited a similar order jointly issued with the Board of Governors of the Federal Reserve System in January 2017. BB&T continues to work closely with the Federal Reserve to resolve its continuing order. Since early 2016, BB&T has made substantial enhancements to its AML compliance program, including significant investments in system upgrades, process improvements and the hiring and placement of a highly experienced AML team to oversee these efforts. About BB&T View original content with multimedia:http://www.prnewswire.com/news-releases/bbt-announces-termination-of-aml-related-consent-order-300674868.html SOURCE BB&T Corporation | ||
Company Codes: NYSE:BBT, NYSE:BBT.PRG, NYSE:BBT.PRF, NYSE:BBT.PRE, NYSE:BBT.PRD |
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