Investors Bancorp freed from BSA-related regulatory order

Investors Bancorp in Short Hills, N.J., has been freed from a regulatory order.

The $25.5 billion-asset company disclosed in a regulatory filing Thursday that the Federal Deposit Insurance Corp. and the New Jersey Department of Banking and Insurance has terminated an August 2016 informal order tied to Bank Secrecy Act and anti-money-laundering compliance.

Under terms of the agreement, Investors was required to implement a system of internal controls to ensure full BSA compliance with BSA and conduct a comprehensive test of that system. The company also had to adopt BSA training programs, form a compliance committee and review certain transactions and accounts.

The order has prevented Investors from pursuing acquisitions.

The company also terminated an agreement to buy Bank of Princeton after it was hit with the informal agreement.