US financial regulations are adversely affecting
international finance and foreign economies:
From the FT piece - Mexico:
Clearing out
“… Since then,
major financial institutions have scaled back or shut down businesses in Mexico
deemed as too risky. But that has produced unintended consequences, often
hurting individuals and businesses that have limited access to the global
banking system.
Even some US
authorities have privately told bank officials that they have gone too far and
they never meant for financial institutions to eliminate services, according to
people familiar with the conversations. But after paying billions of dollars’
worth of fines, banks are not in the mood to take any chances.”
Related:
http://www.economist.com/news/finance-and-economics/21653673-bank-rejects-american-accusations-it-abetted-financial-crime-fearful