The Federal Reserve Board announced the execution of an enforcement action against Customers Bancorp, Inc., West Reading, Pennsylvania and Customers Bank, Malvern, Pennsylvania. As part of the action, within 60 days of the effective date of this agreement, the board of directors of Bancorp shall submit a written plan to the Reserve Bank to strengthen board oversight of the management and operations of the Organization's compliance with the BSA/AML Requirements and OFAC Regulations.