De-Risking By U.S. Banks ‘Here To Stay’

There is little sign that U.S. banks will reverse de-risking practices, legal experts have said, despite growing tension with international money remitters no longer able to gain bank accounts.

The United Arab Emirates (UAE) has emerged as a new flashpoint for strain between U.S. banks and global cross-border fund transfer companies, after UAE central bank governor Mubarak Rashed al-Mansoori revealed he has already attempted to persuade U.S. authorities to intervene.

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