Federal Reserve terminates 2015 currency trading enforcement action towards Financial institution of The us – WNWN-FM

Tuesday, December 03, 2019 12:09 p.m. EST

A Financial institution of The us brand is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri

WASHINGTON (Reuters) – The U.S. Federal Reserve declared Wednesday it experienced terminated a 2015 enforcement action towards Financial institution of The us more than its shortcomings in protecting against traders from manipulating overseas exchange premiums.

The bank experienced agreed in Might of that year to pay a $205 million good and overhaul applicable insurance policies soon after regulators billed several substantial banking companies with oversight shortcomings in overseas exchange marketplaces. Along with the good, the bank experienced agreed to post options to boost its operations and supplemental Fed oversight.

(Reporting by Pete Schroeder Modifying by Chizu Nomiyama)

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