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BOARD CJF GOVERNORS

or THE
FEOERAL RESERVE SYSTEM
WASHINGTON , 0 . C. 20551

A DDRESS O F FICIAL COR R ESP ON D ENCE


T O T HE BOAR D

May 2, 2019

Mr. Matthew R. Lee


Inner City Press/Fair Finance
PO Box 20047
Dag Hammarskjold Center
New York, NY I 00 I 7

Re: Freedom ofInformation Act Request No. F-2019-00169

Dear Mr. Lee:

This is in response to your email dated and received the Board' s Information Disclosure
Section on April 29, 2019. Pursuant to the Freedom oflnformation Act ("FOIA"), 5 U.S.C.
§ 552, you seek records regarding "the 18 April 2019 termination of the money laundering
[enforcement] action against BB&T."

Staff searched Board records and located information responsive to your request. I have
determined, however, that the majority of these records consist of internal and inter-agency pre-
decisional deliberations and recommendations, as well as confidential supervisory information
related to the supervision and examination of a Federal Reserve-regulated financial institution.
This information is exempt and will be withheld from you under the authority of exemptions 5
and 8 of the FOIA, 5 U.S.C. §§ 552(b)(5) and (b)(8). The responsive materials have been
reviewed under the requirements of subsection (b) of the FOIA, 5 U.S.C. § 552(b), and all
reasonably segregable nonexempt information will be made available to you. Accordingly,
approximately one page of information will be released to you in full , and 133 pages of
information will be withheld from you in their entirety.

Staff also located potentially responsive documents that originated from the Federal
Deposit Insurance Corporation ("FDIC" ). These materials, totaling three pages, are being
referred to the FDIC, along with a copy of your FOIA request, for a direct response to you. Our
referral letter to the FDIC is enclosed with this response.

Accordingly, your request is granted in part and denied in part for the reasons cited
above. The Board's Information Disclosure Section will provide you with a copy of the
documents being released to you under separate cover. If you believe you have a legal right to
any information that is being withheld, you may appeal by writing to Board of Governors of the
Federal Reserve System, Attn: FOIA Appeals, 20th Street & Constitution Avenue NW,