Earlier this year, former Risk Officer at U.S Bank Michael LaFontaine was fined $450,000 for a "failure to prevent violations of the Bank Secrecy Act," according to The Wall Street Journal. U.S. Bank had already been fined $613 million in 2018 for weak anti-money laundering controls, with enforcement action specific to LaFontaine. Before and during LaFontaine's tenure, U.S. Bank used a transaction-monitoring software that placed a cap on the number of alerts generated, preventing the bank [...]