Fed Fines Silvergate Capital, Silvergate Bank $43 Million for Deficiencies in Silvergate's Monitoring of Transactions
July 02, 2024
July 02, 2024
WASHINGTON, July 2 -- The Federal Reserve issued the following news release on July 1, 2024:
The Federal Reserve Board on Monday fined Silvergate Capital Corporation and Silvergate Bank $43 million for deficiencies in Silvergate's monitoring of transactions in compliance with anti-money laundering laws.
The Board's action was taken in coordination with an action by the Department of Financial Protection and Innovation of the State of California, the state supervisor of . . .
The Federal Reserve Board on Monday fined Silvergate Capital Corporation and Silvergate Bank $43 million for deficiencies in Silvergate's monitoring of transactions in compliance with anti-money laundering laws.
The Board's action was taken in coordination with an action by the Department of Financial Protection and Innovation of the State of California, the state supervisor of . . .