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Banking Committee Approves Iran Bill that Would Increase FinCEN, OFAC Budgets
printThe U.S. Senate banking committee approved a bill that would ratchet up economic pressure on Iran and increase the budgets of two government agencies that enforce sanctions and counter-terrorist financing regulations. The bill, which passed 19-2, is intended to discourage Iran from its purported plans to produce nuclear weapons and follows a much publicized test of Iranian missiles earlier this week. The measure was introduced by Sens. Chris Dodd, a Connecticut Democrat, and Richard Shelby, an Alabama Republican. President Bush would be required to freeze the funds of all Iranian officials tied to the country's alleged nuclear program and U.S....
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