September 18, 2014 / 3:22 PM / 3 years ago

U.S. Federal Reserve takes enforcement against Santander

WASHINGTON, Sept 18 (Reuters) - The U.S. Federal Reserve on Thursday took an enforcement against a U.S. unit of Spanish bank Santander, saying the bank should not pay out dividends without prior written approval.

Santander was one of three non-U.S. backed banks whose plans for higher dividends or share buybacks were blocked by the Fed earlier this year, due to weaknesses in their capital planning processes. (Reporting by Douwe Miedema; Editing by Bill Trott)

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