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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BB and T Corporation | NYSE:BBT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 54.24 | 0 | 01:00:00 |
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North Carolina
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56-0939887
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(State or other jurisdiction of incorporation)
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(I.R.S. Employer Identification No.)
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200 West Second Street
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Winston-Salem, North Carolina
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27101
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(Address of principal executive offices)
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(Zip Code)
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ITEM 8.01
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Other Events
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BB&T Corporation (“BB&T”) announced today that its bank subsidiary, Branch Banking and Trust Company, has entered into a Consent Order with the Federal Deposit Insurance Corporation and the North Carolina Commissioner of Banks. The order calls for corrective actions and enhancements to address certain internal control deficiencies within the Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) Compliance Program. No criminal activity has been identified as the result of such deficiencies, and no financial penalty was levied.
BB&T has already taken significant steps towards the improvement of its BSA/AML program, including:
additional investment into processes and system upgrades to strengthen anti-money laundering controls;
continued emphasis on education, training and the importance of compliance for all associates; and
the hiring and placement of a highly experienced BSA/AML professional to oversee these efforts.
BB&T anticipates entering into a similar regulatory order with the Board of Governors of the Federal Reserve System in the near future.
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BB&T CORPORATION
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(Registrant)
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By:
/s/ Cynthia B. Powell
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Cynthia B. Powell
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Executive Vice President and Corporate Controller
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(Principal Accounting Officer)
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1 Year BB and T Chart |
1 Month BB and T Chart |
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