Capital One N.A. has agreed to pay $100 million to resolve a financial regulator’s claims that the bank failed to address shortcomings in its systems for preventing money laundering.
The penalty comes three years after an earlier settlement with the Office of the Comptroller of the Currency, which cited Capital One for deficiencies in its anti-money laundering compliance program and for failing to file reports to the Treasury Department concerning suspicious customer activity. In assessing the $100 million penalty, the OCC said Tuesday, “the agency found that the bank failed to achieve compliance with the achieved OCC’s 2015 order, as required.”
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