An opinion by New York State's highest court could reanimate lawsuits against foreign banks alleged to have maintained accounts for blacklisted terrorist groups, even when the institutions have no physical U.S. presence.
A Miami bank will pay nearly $11 million for maintaining accounts for over a decade for high-risk Mexican currency exchange houses linked to drug traffickers, the U.S. Justice Department said Monday.
A Miami-based bank is expected to agree to pay between $10 million and $15 million to the U.S. government in the next month for Bank Secrecy Act violations, according to individuals familiar with the matter.
A judges decision Tuesday to allow discussion of alleged suspicious activity at a Miami bank is likely to draw the attention of financial regulators, according to current and former examiners.
A Florida judge will rule Tuesday whether attorneys can discuss the possible filing of a suspicious activity report that allegedly triggered a wrongful termination lawsuit against a Miami community bank.
The Federal Deposit Insurance Corp., in a cease-and-desist order signed Friday, ordered Ocean Bank of Miami to provide job-specific training for compliance staff, the bank said today in a statement. The FDIC confirmed the enforcement action but declined to say when it would be released.
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