The Federal Reserve has taken enforcement action against Customers Bancorp for providing digital asset services and a tokenized instant payment platform

The Federal Reserve on Thursday announced it had taken enforcement action against Customers Bancorp Inc for "material deficiencies" in its risk management and anti-money laundering practices.
The Federal Reserve said the enforcement action against the Pennsylvania-based bank, which offers digital asset services and a tokenized instant payment platform, stemmed from a recent Federal Reserve inspection.