Discover Financial Services has entered into a written agreement with the Federal Reserve to improve its anti-money laundering procedures.

The Federal Reserve Bank of Chicago's written agreement requires the Riverwoods, Ill., company to add more personnel, systems and other resources for Bank Secrecy Act and anti-money laundering compliance.

Discover had previously said that the Fed would pursue an enforcement action against it for deficiencies in anti-money laundering. Discover remains subject to a June 2014 consent order with the Federal Deposit Insurance Corp., also related to anti-money laundering compliance.

A Discover spokesperson declined to comment.

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