Banking Chair Questions Lack of Anti-Money Laundering and Regulatory Protection as a concern for NAFTA

IMPORTANT: The full content of this page is available to premium users only.

Friday, October 1, 1993
Author: 
Volume: 
9
Issue: 
10
379
Abstract: 
On September 28, 1993, House Banking Committee Chairman Henry Gonzalez (D-Texas) expressed concern over the unqualified support given the Federal Reserve (the Fed) and the Securities and Exchange Commission (SEC) to the North American Free Trade Agreement (NAFTA). Gonzalez explained his preoccupation about the laundering of money and resources that is occurring in Mexico. NAFTA does not change the way in which U.S. banks may make investments in foreign companies or the way that banks are regulated with respect to their activities outside the U.S…[more]