BB&T confirms Fed termination of anti-money laundering related consent orderBB&T Corporation announced the Board of Governors of the Federal Reserve System has terminated its Cease and Desist Order with BB&T Corporation related to BB&T's anti-money laundering program. No money laundering activity was identified and no financial penalty was levied in relation to this order, the bank stated. BB&T Chairman and CEO Kelly King said, "Since 2016, our highly experienced AML team has worked tirelessly to ensure our BSA/AML program meets and exceeds all required standards. Their efforts, along with our significant investments in technology and process improvements, have positioned us well for the future." |