published: September 6, 2024 at 09:50 PM GST September 6, 2024 at 09:50 PM GST 2 mins read News The US Federal Reserve has directed United Texas Bank to stop providing crypto services because of compliance issues, including anti-money laundering. This action affirms a rising trend of enhanced regulatory actions towards banks that engage with…
The US Federal Reserve has placed a cease and desist order on United Texas Bank. The regulator believes the bank needs stronger AML and risk management measures. On Wednesday, the US Federal Reserve issued a cease-and-desist order to Dallas-based United Texas Bank over its crypto services to customers. With the growing scrutiny of key players…
September 5, 2024 at 09:10 AM GST updated: September 5, 2024 at 08:35 AM 2 mins read News United Texas Bank received a cease-and-desist order from the Federal Reserve over AML compliance issues related to its crypto dealings. The bank has 90 days to submit a five-part action plan to improve adherence to anti-money laundering…
United Texas Bank has been issued a cease and desist order by the U.S. Federal Reserve and the Texas Department of Banking due to significant compliance deficiencies. The bank must take immediate action to rectify issues related to its anti-money laundering (AML) program and corporate governance oversight. Cease and Desist Order for United Texas Bank…