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News Release 2018-15
February 7, 2018
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WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $50 million civil money penalty against Rabobank, N.A., of Roseville, California, for deficiencies in the bank’s Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance program.
The bank’s deficiencies were the subject of a cease and desist order (consent order), which the bank consented to on December 5, 2013. The $50 million civil money penalty and 2013 consent order were based on an OCC examination of the bank which found:
The OCC action is being taken in coordination with a separate action by the Department of Justice. The bank paid the OCC-assessed penalty to the U.S. Treasury and that amount is credited toward satisfaction of the fine assessed by the Department of Justice.
The OCC is also terminating the 2013 consent order. The OCC has determined that the bank has implemented all of the corrective actions required by the 2013 consent order and has achieved compliance with the requirements set forth in that order.
Bryan Hubbard (202) 649-6870