The Fed could end up fining the bank, the Journal reported, citing sources familiar with the matter.
Potential fines are the latest development in a years-long dialogue between the bank and the regulator. In 2018, the Fed classified Deutsche Bank's US operations as being in"troubled condition," one of the lowest classifications. In May 2020, itDeutsche Bank passed the Fed's stress test for the first time in 2019, but its CEO Christian Sewing has recognized the bank's continued shortcomings.
New York's Department of Financial Services fined Deutsche Bank $150 million last July in part due to its dealings with
nevermore_007 Fines. 🤔 Aren’t the money-laundering rules codified? So if I launder money and “forget”to file reports, then the feds found it, could I just fork over some percentage of it to the government and call it good? Then do it again?