BCCI Depositors Urge U.S. To Limit Fines, Penalties
LONDON -- Depositors in the collapsed Bank of Credit and Commerce International are urging U.S. regulators not to impose any more big fines on the bank.
The depositors fear such fines would shortchange them.
The first international meeting of a group of BCCI depositors will be held Friday in London to set strategy for what is sure to be a mammoth legal battle over the disposition of seized BCCI assets.
The group, the BCCI Depositors Protection Association, has already written to the Federal Reserve Board protesting the $200 million in fines and penalties imposed on the bank.