Law and regulation

Associated Banc-Corp Fined $500,000 in Money-Laundering Order

By Andy Peters May 14, 2014, 11:19 a.m. EDT 1 Min Read

M&A

Associated in Wis. to File $500M Shelf Registration for M&A

Associated Banc-Corp (ASBC) in Green Bay, Wis., seems poised to make acquisitions.

By Paul Davis

March 19
M&A

M&T's Wilmers Defends Hudson City Deal at Investor Meeting

Robert Wilmers, chairman and CEO of M&T Bank, told shareholders at its annual meeting that times are tough for banking and that the continued delay of its Hudson City deal, and associated high costs, are disappointing. But he insisted that the deal is still worth doing.

By Andy Peters

April 15

Associated Banc-Corp (ASBC) in Green Bay, Wis., has been hit with a $500,000 fine by regulators for deficiencies in its anti-money laundering compliance procedures.

The $24.8 billion-asset company, which disclosed the civil money penalty in a Monday regulatory filing, said it expects no additional fines due to the issue. The fine was tied to a February 2012 consent order from the Office of the Comptroller of the Currency. Associated said in March said that the OCC had formally terminated the order.

Regulators have shown a heightened interest in compliance tied to anti-money laundering laws and the Bank Secrecy Act, most notably in relation to M&T Bank's (MTB) agreement to buy Hudson City Bancorp (HCBK). M&T has twice postponed the deadline for closing the deal, as it looks to satisfy regulators by improving its anti-money laundering compliance procedures and technology.

twitter

For reprint and licensing requests for this article, click here.

Law and regulation

Community banking

MORE FROM AMERICAN BANKER

Faster payments

FedNow saw $17.5 billion of transactions last quarter

The Federal Reserve released the volume of activity on its instant payments network since its launch last summer, showing a surge in usage between July and August.

By Kyle Campbell

27m ago
Credit cards

Fintech Sunbit seeks BNPL distinction in co-branded cards

The niche buy now/pay later firm is looking for differentiation in a crowded market with recognizable brands like Klarna, Affirm and Afterpay.

By Joey Pizzolato

6h ago
Artificial intelligence

Inside BNY's plans to upgrade Eliza, its generative AI platform

The 2.0 version, expected to launch next year, will provide more detailed responses based on more complex, humanlike thought processes.

By Suman Bhattacharyya

November 21
Cyber security

Finastra client files stolen in data breach

The breach, which occurred earlier in November, did not directly impact customer operations, but a threat actor stole data meant for customers.

By Carter Pape

November 21
Disaster recovery

Truist commits $725 million to help western N.C. rebuild after Helene

The North Carolina-based bank rolled out a multiyear program to provide loans, investments and philanthropic support to communities in the western part of the state.

By Allissa Kline

November 21
Credit scores

CFPB's Chopra: AI can be the key to fairer credit scoring

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

By John Heltman

November 21