Posted 7/7/2008
The following is taken from a July 1st email that was recently broadcast by FIBA President Ramon Usategui. The NMTA commends FIBA and the sentiments expressed in the Congressional letter described below.-ed.
Congress, Bankers Demand Action "FIBA Message on BSA Enforcement Heard Loud and Clear in Washington - FIBA's message on the need to return to a realistic balance between BSA/AML bank regulation and legitimate international business has been heard loud and clear by regulators. FIBA has been taking this message to Congress and regulators for more than 5 years. Congress finally said "enough is enough".
Echoing the sentiments of Treasury Secretary Paulson, who has called for a return to balance in the financial sector, 18 members of Congress sent a bi-partisan letter to bank regulators telling them that they have gone too far....FIBA joined forces with the FBA in May of this year in telling Congress that jobs are being lost in Florida, some of the international business which is the lifeblood of Florida has gone offshore, and the future health of Florida's banking sector, and particularly Florida's international banking sector, is at risk.
A copy of the letter from the 18 members of Congress is attached for your review. |
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