M&T Bank, four years and $400M later, released from enforcement action | American Banker

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M&T Bank has been released from an enforcement action that had required the Buffalo, N.Y., company to spend more than $400 million to upgrade its anti-money-laundering compliance systems.

The Federal Reserve Board on Tuesday terminated its June 2013 written agreement with the $121 billion-asset company, according to a news release. The Fed had required M&T to improve compliance as a condition for approving its October 2015 acquisition of Hudson City Bancorp in Paramus, N.J. M&T waited more than three years for regulators to approve the Hudson City deal.

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