“El Paso’s international trade traffic in 2011 was greater than the trade traffic passing through San Diego, Calif. and Nogales, Ariz. combined.  With such cross-border economic activity it is only natural for foreign businesses to maintain U.S. bank accounts in El Paso. Unfortunately, many of these commercial accounts are being closed by U.S. banks. Why is this happening? The answer can be traced back to the bank formerly known as the Hong Kong Shanghai Banking Corporation and its violations of the 2001 Patriot Act – transgressions that a U.S. Senate subcommittee investigated and resulted in the assessment of a $1.9-billion penalty to HSBC in July.”

http://www.elpasoinc.com/columns/article_897770d4-2ea6-11e3-bcfd-0019bb30f31a.html

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