Midweek Roundup: Tanzanian Bank Sues U.S. Treasury, Senator Questions Encrypted Network’s Effect on Bank Oversight, and More

FBME Bank is suing the U.S. Treasury Department over a Patriot Act designation finalized last month that bars American banks from maintaining correspondent and payable-through accounts for the Tanzania-based financial institution, Courthouse News Service reported. More and More In letters sent Monday, Sen. Elizabeth Warren (D-MA) requested meetings with federal regulators and the U.S. Justice Department to discuss whether a new encrypted messaging network and data-deletion service, Symphony Communications, could be used by banks to shield themselves from enforcement actions and criminal settlements.. More Brazilian officials claimed that two business executives indicted last week for their alleged participation in a...