New York’s financial-services regulator on Tuesday fined Deutsche Bank AG $150 million for failing to properly monitor its dealings with late financier and convicted sex offender Jeffrey Epstein.

The fine, the latest in a series of run-ins with U.S. regulators for the German lender, was issued also in part for Deutsche Bank’s “correspondent” relationship with two European banks embroiled in money-laundering scandals. Correspondent banks serve as intermediaries in international transactions, handling transfers for other banks…

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