Under a supervisory agreement, the $803 million-asset Baltimore County Savings Bank must review and revise if necessary its policies on compliance with the Bank Secrecy Act and the Flood Disaster Protection Act and on underwriting indirect automobile loans.
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Its holding company, BCSB Bankcorp Inc. of Baltimore, revealed the agreement with the Office of Thrift Supervision in a Dec. 14 filing with the Securities and Exchange Commission. It said the cost is not expected to have a "material financial impact" on it.
Failure to comply could bring a formal enforcement action, which could entail monetary penalties, BCSB said - but it said it had already complied with some of the requirements and would be able to implement the rest.
