WaFd Bank fined US$2.5m for AML failings; OCC consent order not lifted

The consent order Washington Federal Bank, N.A. (WaFd Bank) signed in February 2018 [1], after the Office of the Comptroller of the Currency (OCC) found extensive deficiencies in its anti-money laundering/Bank Secrecy Act compliance controls, will remain in place despite settlement of a US$2.5 million civil penalty.