BREAKING NEWS

BREAKING NEWS

U.S. Fed says terminates 2013 enforcement action against RBS group for sanctions lapses

Now Reading :

U.S. Fed says terminates 2013 enforcement action against RBS group for sanctions lapses

U.S. Fed says terminates 2013 enforcement action against RBS group for sanctions lapses
@ Copyright :
Stefan Wermuth(Reuters)
Text size Aa Aa

By Katanga Johnson

WASHINGTON (Reuters) - The U.S. Federal Reserve said on Tuesday that it terminated a 2013 enforcement action against Royal Bank of Scotland Group <RBS.L> for sanctions lapses in its foreign operations.

Between 2005 and 2009, the bank processed around $34 million in wire transfers that violated sanctions against Sudan, Iran, Cuba and Myanmar, the Treasury Department said in December 2013.

The Fed said the agreement in which it fined RBS as of Tuesday had been terminated.

(Reporting by Katanga Johnson; Editing by Michelle Price)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.