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Weekly Roundup: DOJ Extends Compliance Deadline for Royal Bank of Scotland Deal, Vatican Adopts AML Measures, and More
printAs the deadline for the merger of the U.S. Treasury Department's Office of Thrift Supervision (OTS) and its Office of the Comptroller of the Currency inches closer, OTS enforcement actions against financial institutions and individuals continue to ramp up. More On Monday, the agency disclosed a cease-and-desist order against Wabash, IN.-based Crossroads Bank for poor compliance with Bank Secrecy Act regulations. The bank was ordered to strengthen its suspicious activity reporting policies and procedures and ensure annual employee compliance training. The OTS also told Crossroads that it must hire an independent consultant to review all transactions made between July 2009...
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