Federal Reserve Fines Deutsche Bank $41 Million for Deficient Anti-Money Laundering Program

WASHINGTON—The Federal Reserve fined Deutsche Bank AG $41 million for “unsafe and unsound” anti-money-laundering practices on Tuesday, the latest in a series of fines for the lender.

The Fed said that Deutsche Bank’s U.S. banking operations had failed to maintain an effective anti-money-laundering program to comply with the Bank Secrecy Act and…

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