The U.S. Federal Reserve Board says it found "significant deficiencies" in Customers Bancorp, Inc.'s risk management and compliance with anti-money laundering laws in an enforcement action filed on Thursday.

The bank, which offers services to digital asset customers, agreed to file a written plan to the Federal Reserve to bolster "board oversight" of its anti-money laundering requirements and sanctions-related rules. 

The bank also agreed to file a plan to improve its risk management practices regarding its "digital asset strategy," according to the agreement. That includes "measures to ensure that the individuals or groups charged with the responsibility for the Organization’s digital asset strategy possess the appropriate subject matter expertise, stature, independence, and …