Benzinga | Sep 30, 2021 04:30PM EDT

Washington Federal Bank, N.A. Agrees $25M To Civil Money Penalty For AML/BSA Consent Order

Washington Federal Bank, N.A., dba WaFd Bank, ("WaFd Bank"), subsidiary of Washington Federal, Inc. (NASDAQ:WAFD) ("Washington Federal") today announced that it has entered into an agreement with the Office of the Comptroller of the Currency ("OCC") to pay a $2.5 million civil money penalty associated with its previously-disclosed February 2018, Consent Order for Anti-Money Laundering and Bank Secrecy Act ("AML/BSA") deficiencies ("Consent Order"). Coupled with the enhancements already made to its AML/BSA program, WaFd Bank views the payment of the civil money penalty as a milestone toward resolution of the Consent Order, which remains in place.

"WaFd Bank is committed to building and maintaining an effective AML/BSA program and appreciates the opportunity to continue working with the OCC to achieve that goal," said WaFd Bank President and CEO, Brent Beardall.