Federal regulators ordered New Jersey-based Crown Bank to improve its anti-money-laundering controls and hire an independent monitor to review transactions going back to April 2010.
The Federal Deposit Insurance Corp. required the changes in an April 26 consent order that was released Friday. The bank neither admitted nor denied any charges in the order, which did not indicate what provoked the FDIC to require enhanced AML due diligence.
The bank did not immediately respond to a request for comment.
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