Fed, NYS Order Metropolitan Commercial Bank To Pay $30M

By Katryna Perera (October 20, 2023, 8:07 PM EDT) -- The Federal Reserve Board of Governors and the New York State Department of Financial Services have ordered New York-based Metropolitan Commercial Bank, or MCB, to pay a total of $30 million in fines for allegedly violating customer identification rules and for failing to maintain adequate anti-money laundering practices....

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