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Weekly Roundup: U.S. Lawmakers Want to Block Iran’s Access to ECB Payment System, FDIC Dings Florida Bank for BSA Deficiencies, and More
printU.S. lawmakers are considering a bill that would prevent Iranian companies and banks from using the European Central Bank's Target2 cross-border payment system, the Financial Times reported Wednesday. The bill, which might be introduced next week, is part of a legislative package aimed at prompting the bank to take a tougher stance against Iran. More The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) fined the Bank of Guam $27,000 Friday for violating the Iranian Transactions Regulations by processing two wire transfers, in one instance advising a client not to mention Iran in the payment message. The bank did...
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