US Professor: “Overzealous FinCEN Requires Oversight”

16 April 2016

Writing on the American Banker website, Sharyn O’Halloran, a George Blumenthal Professor of Political Economy and a professor of international and public affairs at Columbia University, wrote that in its actions against FBME it is clear the “… overzealous FinCEN needs more oversight” from US authorities. She described FinCEN’s proposed punishments as “draconian”, and pointed to the “… glaring gaps in its administrative process and lack of substantiated claims in its pursuit of FBME, (which) suggest that FinCEN sleepwalked toward a predetermined outcome of simply wanting the institution closed”.

She added that “… it also appears that FinCEN’s targeting of the bank borders on unconstitutional,” and believes that in opposing FinCEN’s strictures FBME “… has a good case”. The full article can be accessed here: