Weekly Roundup: FDIC Dings Two Banks for AML Deficiencies, Arab Bank to Face Trial on Terrorist Finance Allegations, and More

A terrorist financing lawsuit against Arab Bank will proceed to trial, Bloomberg reported. New York District Judge Nina Gershon rejected the bank's request to dismiss the case on Wednesday. The lawsuit alleges that Arab Bank facilitated payments to the families of suicide bombers for nearly 10 years. The trial will most likely take place in September or October, the news agency said. More The Federal Deposit Insurance Corporation issued a pair of consent orders Friday for Bank Secrecy Act violations. The FDIC ordered the Los Angeles-based State Bank of India to ensure independent testing of its BSA program and told...