Texas Bank Fined $1.9 Million
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Associated Press
WASHINGTON — The Treasury Department announced today that it was imposing a $1.9-million penalty against Texas Commerce Bancshares, the third largest penalty imposed so far in a government crackdown on bank failures to report large currency transactions.
The department said the penalty was based on more than 7,000 violations by the Houston bank holding company of the Bank Secrecy Act, which requires banks to report any cash transactions involving more than $10,000.
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