Sanctions Bill Targeting Hezbollah’s Banks Abroad Could Sail Through Congress, Say Sources

By Brian Monroe

A bipartisan bill targeting banks that offer financial services to Hezbollah is likely to garner broad political support among U.S. lawmakers, according to advocates of strong counterterrorist measures. Introduced Monday, the Hezbollah International Financing Prevention Act of 2014 would require the U.S. Treasury Department to impose restrictions on correspondent and payable-through accounts held for foreign banks that knowingly launder money or otherwise aid the militant group. The measure is supported by House Foreign Affairs Committee Chairman Ed Royce (R-CA). Under the bill, the restrictions could include requiring foreign banks to report related information to the Treasury Department, provide data to...