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Pakistan’s
largest bank is leaving today.  The federal
government apparently does not want to be a part of it.

 

When the New York Department of Financial Services
(NYDFS) announced last month that it was seeking to impose a penalty of
approximately $630 million on Pakistan’s largest bank for violations of federal
and New York anti-money laundering (AML) regulations, it acted in the absence
of joint action by federal authorities and with potentially significant effects
on U.S. national security, signaling a nationally important trend for the state
agency.

This action against Habib Bank Ltd. (HBL) has had
effects far beyond the enforcement of financial regulations.  Occurring one week after the White
House announcement
on strategy in Afghanistan and South Asia
that included

... read more at: https://www.bna.com/start-spreading-news-b73014464165/

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