Skip to Content

NY.gov Portal State Agency Listing

Translate | Disclaimer

Press Release
New York State Banking Department Lifts Order Against Deutsche Bank
Deutsche Bank Meets Required Anti-Money Laundering Standards

June 18, 2008

New York, N.Y.: The New York State Banking Department, along with the Federal Reserve Bank of New York, today announced the lifting of a 2005 written agreement with Deutsche Bank. The agreement, which was entered into due to weaknesses identified in the bank’s Anti-Money Laundering (AML) program, was lifted upon the determination that Deutsche Bank had addressed the issues.

“We are glad to see that Deutsche Bank has satisfactorily addressed the identified issues and encourage management to continue its actions in maintaining an effective AML program,” said Richard H. Neiman, Superintendent of Banks for the State of New York.

TheNew York State Banking Department is the regulator for all state-chartered banking institutions, virtually all of the United States offices of international banking institutions, all of the State’s mortgage brokers, mortgage bankers, check cashers, money transmitters and budget planners. The aggregate assets of the depository institutions supervised by the Banking Department are more than $1.8 trillion.

In addition to regulating banking institutions, the Banking Department is active in informing and educating all New Yorkers on banking matters. To contact the Banking Department, please call 1-877-BANK-NYS or visit our Web site at www.banking.state.ny.us.