Overview

• In a 37‑page filing in Washington, D.C., CIBanco seeks a temporary and then permanent injunction against FinCEN’s June 25 order, reversal of related actions, and damages.
• FinCEN’s designation bars U.S. institutions from doing business with the bank and is scheduled to take full effect on September 4 unless a court stay is granted.
• CIBanco says Visa terminated processing on June 30, disabling about 150,000 prepaid cards and blocking roughly 70,000 debit cards for international use, and it reports losing U.S. correspondent relationships.
• The complaint cites restricted access to U.S. fiduciary accounts holding more than $38 million and warns that over $40 billion in funds tied to U.S. interests that it administers could be left unusable.
• Grupo Financiero Multiva announced an agreement to acquire CIBanco’s fiduciary business pending approvals, as CNBV data show sharp drops in assets and deposits and Mexico’s UIF reports finding no corroborating evidence so far.