This announcement revealed that the Federal Reserve had " identified significant deficiencies related to the Bank's risk management practices and compliance with the applicable laws, rules, and regulations relating to anti-money laundering ('AML'), including the Bank Secrecy Act ['BSA'], " according to the complaint. On this news, the price of Customers Bancorp stock fell $7.22 per share, or more than 13%, from a closing price of $54.23 per share on August 7, 2024 to a closing price of $47.01 per share on August 8, 2024. Shares fell further when after market hours on August 8, 2024, Customers Bancorp disclosed a consent order by the Commonwealth of Pennsylvania, Department of Banking and Securities, Bureau of Bank Supervision, stating that "these deficiencies give the Bureau reason to believe that the Bank had engaged in unsafe or unsound banking practices relating to BSA/AML Requirements ."