Plaintiffs Suing Banks for Allegedly Aiding Terror Groups Have Yet to Win a Case

By Brian Monroe

More than a dozen lawsuits against banks that allegedly provided accounts for terrorist organizations have stalled in court over the past five years, with none yet getting a trial date, court documents show. Since 2004, thousands of litigants have brought the suits against U.S. and foreign financial institutions that purportedly provided banking services to branches of blacklisted terrorist organizations, including Hamas, Hezbollah and al-Qaida. The plaintiffs, which include terrorist victims or surviving members of the deceased, have targeted UBS AG, American Express, National Westminster, Credit Lyonnais and other well known banks. The cases hinge upon the Antiterrorism Act of 1996,...