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Midweek Roundup: Andorran Bank Sues Over FinCEN Designation, U.S. Takes Aim at Alleged Honduran Crime Network, and More
printBanca Privada d'Andorra shareholders filed a lawsuit claiming that the U.S. Treasury Department based its designation of the financial institution as a "primary money laundering concern" on insufficient evidence of wrongdoing. The lawsuit follows a similar challenge by Tanzanian and Cypriot lender FBME Bank. More Sen. Sherrod Brown (D-OH) sent letters to more than a dozen large banks last week seeking details on legal settlements entered into since 2005, including subsequent compliance efforts, Bloomberg reported. Brown, the top Democrat in the U.S. Senate Banking Committee, said in the letter that his staff is investigating enforcement actions related to banking, tax...
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