The Federal Reserve's concerns about M&T Bank's anti-money-laundering policies have held up M&T's acquisition of Hudson City Bancorp. Those concerns are detailed in an agreement between the Fed and the bank that was released Tuesday. The regulator found M&T's compliance risk-management program for conforming with anti-money-laundering laws to be lacking, and it is questioning M&T's internal controls and review of potential high-risk customers, among other things.

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