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Fulton Financial (FULT) in Lancaster, Pa., reported higher quarterly profit that benefited from a cost-cutting initiative.
April 22 -
Fulton Financial (FULT) in Lancaster, Pa., has added its name to the growing list of banks closing branches to cut costs.
January 22 -
Fulton Financial (FULT) in Lancaster, Pa., reported a nearly 5% increase in fourth-quarter earnings, capping a year of loan growth and credit quality improvements.
January 22
Regulators have ordered Fulton Financial (FULT) in Lancaster, Pa., to strengthen its Bank Secrecy Act and anti-money laundering controls.
Three banking subsidiaries of the $17 billion-asset company recently entered into consent orders with the Office of the Comptroller of the Currency over weaknesses in their BSA/AML programs, the company said in a regulatory filing Friday.
The orders require the banks to strengthen their BSA compliance programs. Fulton did not disclose the specific deficiencies or violations flagged by the OCC.
"Management is keenly focused on this matter and intends to continue to work to accelerate and complete its remediation efforts," the filing said.
A Fulton spokeswoman said the company has made significant progress in BSA/AML compliance in the past two years but still has more to do. She said the order will not affect Fulton's customers.
The three banks covered by the consent orders are Fulton Bank, Swineford National Bank and FNB Bank. The parent company and its Lafayette Ambassador Bank unit are expected to enter into similar enforcement orders with the Federal Reserve Board soon, the filing said.
