February 15, 2018 / 3:00 PM / 3 months ago

U.S. charges, fines U.S. Bancorp over $500 mln for money laundering violations

WASHINGTON, Feb 15 (Reuters) - The U.S. government announced criminal charges against U.S. Bancorp Thursday, alleging the bank willfully failed to have a sufficient anti-money laundering program.

The bank agreed to pay over $500 million in forfeiture and fines to several authorities, including the Treasury Department and Federal Reserve. (Reporting by Pete Schroeder Editing by Chizu Nomiyama)

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