EVANSVILLE, Ind. (AP): An Evansville-based bank says it expects to pay a $500,000 civil penalty stemming from a consent order issued last year by federal regulators.
Old National Bank spokeswoman Kathy Schoettlin says bank has been working to address regulators' concerns, and has been told regulators will terminate their consent order next month.
The Office of the Comptroller of the Currency issued a consent order in June 2012 saying it had identified “deficiencies in the Bank's overall program” for complying with the Bank Secrecy Act.
That act requires banks to have controls, record-keeping and reporting in place to monitor and deter money laundering and other criminal financial acts.
Schoettlin says Old National has put in place new information systems to monitor banking transactions.
Old National has banking centers in Fort Wayne, Portland and Marion. Old National purchased Fort Wayne-based Tower Bank earlier this year and is expected to finalize that deal this spring.
