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You guys: You’re not going to believe this.

The Federal Reserve told Deutsche Bank AG in recent weeks that the lender is failing to address persistent shortcomings in its anti-money-laundering controls….

I mean, seriously, who could have ever seen this coming?

The Fed’s latest warning comes four years after it classified Deutsche Bank’s U.S. operations as being in “troubled condition,” a rare rebuke for a major bank. In May 2020, it issued a fresh admonishment over the bank’s money-laundering controls.

In 2020, Deutsche Bank also settled with New York’s Department of Financial Services over the bank’s role as a correspondent bank in one of Europe’s largest money-laundering scandals….

Still, surely another stern tongue-lashing will do it, right?

The Fed’s frustration has escalated to a point that the bank could be fined….

We can only hope there’s enough wiggle room left to pay for this latest unexpected expense.

Fed Warned Deutsche Bank Over Anti-Money Laundering Backsliding [WSJ]



Deutsche Bank’s Money Laundering Controls Still Need A Touch Of Work

Not that the Federal Reserve is mad about it or anything. Oh, they are?


Deutsche Bank Still Trying, Failing To Figure Out How To Stop Money Laundering

Yes, this headline would apply no matter what you put after “figure out,” but once again we’re talking about this.


Disappointed Regulator Outsources More Of Deutsche Bank’s Anti-Money Laundering To KPMG

It’s almost as if five years of stern warnings and meaningful shakes of the head haven’t gotten through yet.


Going Forward, Federal Regulators Should Announce When They Are NOT Probing Deutsche Bank

If Danske Bank broke all those laws, then the Fed is pretty sure that Deutsche Bank helped.

Sewing Gimp Deutsche

Deutsche Bank Settles Money Laundering Case For €15M, Unquantifiable Amount Of Bad Publicity

Christian Sewing involuntarily shudders whenever he hears police sirens now.