July 7, 2020 / 1:19 PM / a month ago

Deutsche Bank to pay $150 million penalty over Jeffrey Epstein, other compliance failures

July 7 (Reuters) - Deutsche Bank AG has agreed to pay $150 million in penalties to settle charges by a New York state regulator that the bank suffered from "significant" compliance failures in its relationships with the late financier Jeffrey Epstein, Danske Bank Estonia and FBME Bank.

The New York State Department of Financial Services said on Tuesday that the agreement marks the first regulatory enforcement action against a financial institution for dealings with Epstein, the registered sex offender who committed suicide last August. (Reporting by Jonathan Stempel in New York Editing by Chizu Nomiyama)

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