Sumitomo Mitsui Finl Grp

Fed finds AML problems at U.S. branch of Japanese bank


The central bank issued an enforcement action against Sumitomo Mitsui Banking Corp. and its New York branch, citing deficiencies related to risk management and compliance with the Bank Secrecy Act.


Warren, Van Hollen probe Bank of Tokyo's switch to national bank


Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.