Midweek Roundup: JPMorgan Limits Correspondent Banking, Interpol to Investigate Alleged $1 Billion of Looted Libyan Money, and More

JPMorgan Chase has temporarily stopped accepting new correspondent banking clients in response to anti-money laundering (AML) deficiencies identified by the U.S. Treasury Department's Office of the Comptroller of the Currency (OCC), Bloomberg reported Saturday. The OCC and JPMorgan entered into a consent order in January that criticized the institution for failing to identify suspicious activity. The bank is also reviewing its existing correspondent accounts. More The 9th U.S. Circuit Court of Appeals Friday overturned the conviction of Pete Seda, the Iranian-born former head of the Al-Haramain Islamic Foundation, the Associated Press reported. A court convicted Seda in 2010 of using...