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Weekly Roundup: JPMorgan Stops Dollar Clearing for Latvian Banks, Argentina Extends Tax Amnesty, and More
printJPMorgan Chase has stopped clearing dollar transactions for financial institutions in Latvia, the head of the Latvian Commercial Banking Association told Bloomberg. The decision comes as the U.S. bank faces regulatory pressure to clean up its anti-money laundering (AML) controls. Latvia became the 18th member of the European Union earlier this week. More Iran and six world powers could implement by the end of the month the terms of an accord that would scale back some economic sanctions aimed at the Persian country, Reuters said, citing an Iranian negotiator. More ExxonMobil, Chevron and other American and European companies are poised...
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