LANCASTER, Pa.--(BUSINESS WIRE)--
Fulton Financial Corporation (NASDAQ: FULT) today announced that the
Federal Deposit Insurance Corporation and the New Jersey Department of
Banking and Insurance have terminated the Consent Orders those agencies
issued on February 25, 2015 to the Corporation’s bank subsidiary, Fulton
Bank of New Jersey. These orders were originally issued for deficiencies
in the Bank Secrecy Act and Anti-Money Laundering (“BSA/AML”) compliance
program at that bank. Today’s announcement follows the company’s
statement, released October 30, 2017, that the Office of the Comptroller
of the Currency had lifted similar orders at three of the company’s
other banking subsidiaries.
"These actions are very welcome, and they provide independent
acknowledgement of the progress our company has made in strengthening
our BSA/AML compliance programs,” said E. Philip Wenger, Fulton
Financial’s Chairman and CEO. “Our entire team remains focused on
achieving similar resolutions of the BSA/AML enforcement actions that
remain in place at our two other banking subsidiaries and the holding
company.”
Fulton Financial Corporation, a $20 billionLancaster, Pa.-based
financial holding company, has approximately 3,700 employees and
operates more than 240 branches in Pennsylvania, Maryland, Delaware, New
Jersey and Virginia through six subsidiary banks.
Additional information on Fulton Financial Corporation can be found at www.fult.com.
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Fulton Financial Corporation
Media Contact:
Laura
Wakeley, 717-291-2616
or
Investor Contact:
Jason
Weber, 717-327-2394
Source: Fulton Financial Corporation