- Posted October 22, 2013
- Tweet This | Share on Facebook
Detroit bank agrees to fine in compliance probe
DETROIT (AP) -- A Detroit bank has agreed to pay a $250,000 fine to settle an investigation of compliance with anti-money laundering rules.
First Independence Bank admits that it had unsatisfactory procedures prior to 2009. It has hired new staff, installed sophisticated software and made other changes to detect suspicious banking activity.
Neither the bank nor the government disclosed any specific details about the investigation. Bank President Richard Zamojski says he's confident the improvements are some of the strongest in the country for a bank of its size.
U.S. Attorney Barbara McQuade says her office will vigorously enforce a bank's obligation to follow the rules.
Published: Tue, Oct 22, 2013
headlines Oakland County
- Meet the Judges
- Owner of twice-sunken Lake Michigan barge pleads guilty to felony
- Justice Dept. reaches civil settlement with victims abused by Lawrence Nassar
- Oakland County, Oakland Livingston Human Services Agency launch Oakland County Senior Chore Pilot Program
- U.S. Immigration Court judge to be keynote speaker at law school’s Law Day virtual celebration
headlines National
- New Legalese: You may have heard a deepfake, but what about ‘Twiqbal’?
- From Intake to Outcome: An in-house lawyer’s guide to matter management solutions
- 2 BigLaw firms in merger talks that could produce 1,600-lawyer firm with top 50 revenue
- Send in the paralegals
- Lawyer reprimanded after mistakenly emailing opposing counsel with plan to avoid judge’s call
- ‘I don’t play well’ judge who threatened to track down, jail misbehaving litigant gets tossed from case