The Federal Reserve imposed a $186 million high-quality on Deutsche Bank on Wednesday, saying it moved too slowly to repair issues with the financial institution’s money-laundering controls that the financial institution regulator flagged in 2015 and 2017.

“Deutsche Bank made insufficient remedial progress” in complying with these orders, which it had consented to, the Fed stated in an announcement.

In fining the financial institution, the Fed issued a brand new order that requires Deutsche “to prioritize completion” of the controls it was purported to have put in place beneath the sooner orders.

The central financial institution stated the motion was vital as a result of whereas the financial institution had made some progress in placing higher controls in place, it remained “exposed to heightened ranges of compliance threat” when it got here to detecting cash laundering or violations of U.S. sanctions.

Deutsche, in a statement, stated the motion taken by the Fed associated to “our historic tardiness in adhering to older enforcement actions and agreements.” But the financial institution stated it had taken steps to reinforce its money-laundering controls, together with including workers to its workforce that cracks down on monetary crimes.

Deutsche has a troubled historical past with regulators and prosecutors. Over the previous decade numerous sanctions have been imposed on the financial institution and it has paid large fines over its failure to crack down on cash laundering and over allegations of enabling tax violations, value fixing and international bribery. In 2017, the financial institution reached a $7.2 billion civil settlement with federal prosecutors over its sale of poisonous mortgage merchandise within the run-up to the 2008 monetary disaster. The financial institution additionally paid a $150 million high-quality to a New York financial institution regulator in 2020, partly over its banking relationship with the disgraced financier Jeffrey Epstein.

The Fed orders from 2015 and 2017 stemmed from Deutsche’s relationship with the Estonian department of Danske Bank, which has additionally run afoul of the authorities.

Bank regulators had discovered that in its dealings with Danske Bank, Deutsche didn’t correctly monitor transactions involving high-risk clients. Deutsche stopped doing enterprise with Danske’s Estonian department in 2015.

Last 12 months, Danske, the most important financial institution in Denmark, pleaded responsible to prices arising from a long-running money-laundering investigation. The financial institution additionally agreed to pay a $2 billion penalty.