December 30, 2016
Federal and state banking regulators issued a new consent order against Plantation-based Optimumbank with special emphasis on its allegedly deficient compliance with anti-money laundering laws under the Bank Secrecy Act. In the new consent order, regulators said Optimumbank engaged in “unsafe or unsound” banking practices or violations of law or regulation in the following areas: weakness in asset quality, capital adequacy, earnings, management effectiveness, liquidity, sensitivity to market risk, and compliance with the Bank Secrecy Act (BSA), which includes monitoring accounts for money laundering and filings of suspicious activity reports (SARs) with authorities.