Federal Reserve Board issues enforcement action with SouthPoint Bancshares, Inc. and announces termination of enforcement action with Deutsche Bank AG, DB USA Corporation, and Deutsche Bank AG New York Branch

The Federal Reserve has issued an enforcement action against SouthPoint Bancshares, Incorporated, and announced the termination of a separate enforcement action against Deutsche Bank A-G, its U.S. corporation, and the Deutsche Bank New York branch. The release gives no further detail on either action. Enforcement actions are the central bank's formal tool for addressing compliance and safety-and-soundness problems at regulated institutions.

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