Pennsylvania Commerce Bank signed an agreement with the Office of the Comptroller of the Currency, pledging to improve its risk management, internal audit, and anti-money-laundering compliance.
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The $1.9 billion-asset Harrisburg bank agreed to an internal audit within 30 days and a review of its consumer compliance program within 60 days. Pennsylvania Commerce also has 60 days to review its Bank Secrecy Act program and come up with a plan to review all transactions since Jan. 1, 2006. The agreement was signed Jan. 29 and released Friday.
