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Weekly Roundup: OCC Fines Texas Bank $1 Million, OFAC Clarifies on Cuba Sanctions, and More
printThe U.S. Office of the Comptroller of the Currency (OCC) fined Lone Star National Bank $1 million and ordered the Pharr, TX-based institution to make critical changes to its anti-money laundering (AML) program, including improvements to its suspicious activity reporting, internal controls and oversight of high-risk accounts. The OCC previously cited AML violations at the bank in 2012. More The U.S. Treasury Department's Office of Foreign Assets Control on Thursday published answers to a list of frequently asked questions for complying with recent amendments to Cuba sanctions. More President Obama can lift the most significant sanctions against Iran without congressional...
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