Feds fine U.S. Bancorp $613 million for failing to guard against money laundering

WASHINGTON ­— U.S. Bancorp has agreed to pay the federal government $613 million to settle criminal charges that it did not guard against money laundering in its business.

The U.S. Justice Department said Minneapolis-based U.S. Bancorp “willfully” failed to maintain adequate safeguards against money laundering, leading the bank to miss suspicious transactions for a five-year period from 2009 to 2014.

http://triblive.com/business/headlines/13314796-74/feds-fine-us-bancorp-613-million-for-failing-to-guard-against-money