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Judge tosses lawsuit over Capital One's money-laundering controls
October 19, 2016 / 8:41 PM / a year ago

Judge tosses lawsuit over Capital One's money-laundering controls

Capital One Financial Corp’s board members do not have to face a lawsuit by a shareholder who accused them of failing to properly oversee the bank’s compliance with federal anti-money-laundering laws, a Delaware judge has ruled.

Filed last year by Capital One shareholder Michael Reiter on the bank’s behalf, the derivative lawsuit accused the directors of allowing the bank to violate the Bank Secrecy Act by not properly monitoring inherently risky customers that ran check-cashing businesses or identifying suspicious activity.

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