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Fed terminates Alabama-based Regions Bank enforcement action

The Federal Reserve Board on May 17 announced the termination of a consent order against Birmingham, Ala.-based Regions Bank.

The June 2014 consent order had asked Regions Bank to pay a civil money penalty of $46 million to the Fed and a $5 million penalty to the Alabama State Banking Department.

The termination of the enforcement action took effect May 14.

Regions Financial Corp. is the holding company of Regions Bank.