Banking in Castro Country Is your bank ready and willing to do business in Cuba? For most community banks in the United States, the answer would be a resounding: “No, gracias!” President Barack Obama announced in December of 2014 that he would revise sanctions against the communist regime located less than 100 miles from Key West, Florida. “There was a lot of enthusiasm when President Obama made the announcement back in December,” says David Schwartz, president and chief executive officer of the Florida International Bankers Association. “What we were waiting to see, as an industry, was what would be the...
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