News

China's ninth-largest bank by assets faces a potential ban on U.S. dollar transfers after a federal judge found it and two other Chinese lenders in contempt with a subpoena for records of North Korean transactions, the Washington Post reported. More Shanghai Pudong Development Bank, Bank of Communications and China Merchants Bank claimed China's privacy laws prevent them from providing the documents, according to the Washington Post. More Lloyds Bank froze the accounts of some 8,000 customers of its Jersey affiliate after the clients ignored multiple requests for proof of their identity in the past three years, the Financial Times reported....