The Bank Slate


Washington Federal freed from BSA-related reg order

Washington Federal in Seattle has been freed from a three-year-old regulatory order. 

The $19.7 billion-asset company disclosed in a regulatory filing Monday that the Office of the Comptroller of the Currency has terminated a 2018 consent order it had issued to WaFd Bank.

The order required WaFd to enhance its Bank Secrecy Act program by creating a BSA-focused action plan, supplement existing customer due diligence policies and procedures and perform a BSA risk assessment, among other things. 

The bank agreed in September to pay a $2.5 million civil money penalty tied to the order, without admitting to any violations.

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