The Federal Reserve Board will terminate an agreement with Associated Banc-Corp next month as the Green Bay, Wis., company entered into a different order with another regulator.
The $22 billion-asset Associated said on Monday that it entered into a consent order with the Office of the Comptroller of the Currency to improve its Bank Secrecy Act practices. The company said it must bring its Bank Secrecy Act program into compliance with the federal law that requires banks to detect and report suspicious activities such as possible money laundering.
Associated said that, separately, it had been advised by the Federal Reserve Bank of Chicago that it had complied with the terms of an April 2010 memorandum of understanding, which will end in March.
