October 23, 2018 / 5:31 PM / in a month

Capital One Bank fined $100 million for anti-money laundering weaknesses

The logo and ticker for Capital One are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 21, 2018. REUTERS/Brendan McDermid/File Photo

WASHINGTON (Reuters) - A leading bank regulator on Tuesday fined Capital One Bank $100 million for failing to enforce anti-money laundering controls that have been in place for years.

Capital One failed to satisfy a 2015 consent order that demanded the bank improve its anti-money laundering policies, the Office of the Comptroller of the Currency (OCC) said in a statement.

“The Bank failed to timely achieve compliance with the 2015 Consent Order,” the OCC said in a new consent order that outlined the fine.

Reporting by Patrick Rucker; editing by Jonathan Oatis

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