Fed Ends Silvergate Enforcement Action After Liquidation Plan

The Federal Reserve said that it had ended its enforcement action against Silvergate Bank and its holding company after the lender completed its wind-down plan, paid back deposits and stopped functioning as a bank.

Separately, Silvergate recently agreed to pay $43 million to the Fed for allegedly failing to comply with anti-money laundering rules, the Fed said on Friday.

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Ben Bain in Washington at bbain2@bloomberg.net

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Ben Bain at bbain2@bloomberg.net

Stephanie Stoughton

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