News

Capital One Bank has paid $100 million to the U.S. Treasury Department for failing to fully address anti-money laundering deficiencies that federal regulators first identified three years ago but did not penalize at the time. The department's Office of the Comptroller of the Currency disclosed the penalty against Capital One in a 9-page consent order on Tuesday, citing long-term problems with the McLean, Virginia-based lender's customer due-diligence and transaction-monitoring programs, as well as failures tied to independent testing. Capital One more recently failed to file suspicious activity reports after conducting transactional "look-backs” as mandated by a July 2015 cease-and-desist order...