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House Lawmakers Approve Ban on Correspondent Accounts for Hezbollah Bankers
By Kira Zalan
printThe U.S. House of Representatives Tuesday unanimously passed a bill aimed at foreign banks that provide financial services to Hezbollah, an Iran-backed, Lebanon-based Shiite militant group. The Hezbollah International Financing Prevention Act of 2014 would require the U.S. Treasury Secretary to impose sanctions on correspondent or payable-through accounts for foreign financial institutions that knowingly provide services or facilitate transactions for Hezbollah or individuals acting on the group's behalf. Hezbollah was designated a terrorist organization by the United States in 1995, and has gained attention more recently for its involvement in the conflict in Syria. This week, Hezbollah leader Sayeed Hasan...
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