Obama agencies disagree on action against British banks

Internal documents show U.S. federal agencies argued over how to punish two big British banks suspected of passing tainted money through the American financial system, says New York Times’ DealBook.

Read: Holder says some banks “too large”

“Authorities decided last year to level hefty fines rather than seek criminal charges. Those decisions raised concerns in Washington that some banks, having grown so large and interconnected, are too big to indict,” says the report.

Read more here.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.