WASHINGTON-Eastern Financial Florida Credit Union was cited, along with a few other institutions, on the Treasury Office of Foreign Asset Control’s Jan. 2 edition of the monthly Civil Penalties Enforcement Information. The $1.8 billion credit union located in Miramar, Fla. was cited for a 2002 funds transfer dealing with Cuba. OFAC began publishing the names of violators of the Trading with the Enemy Act in April 2003. According to OFAC, Eastern Financial settled for $4,000. An Eastern Financial official declined to comment. Officials from OFAC only said that the party did not contest the violation and therefore a settlement was reached. Arab Banking Corp., Bank of China, and JP Morgan Chase were the other institutions listed in the Jan. 2 enforcement information.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.