By Brian Monroebmonroe@moneylaundering.comThe Royal Bank of Canada and the U.S. Federal Reserve have signed a memorandum of understanding related to the anti-money laundering programs at the bank's U.S. banking operations, RBC Centura.That will pave the way for the bank to close a series of acquisitions after a slowdown in part caused by the difficulty of marrying divergent AML programs.Banking regulators, under Section 327 of the USA Patriot Act, have to sign off on an institution's AML program before mergers or acquisitions can be finalized under the Bank Holding Company Act or the Federal Deposit Insurance Act. If the agencies determine...
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