Banco San Juan Internacional Inc.’s recent amendments to its suit challenging the Federal Reserve Bank of New York’s decision to close its master account were rejected by a federal court.
The suit was dismissed in January without prejudice, which gave the bank an opportunity to amend its complaint. But Judge John G. Koeltl of the US District Court for the Southern District of New York said March 9 that BSJI’s two proposed amendments would be futile.
BSJI’s master account was closed in 2023 after the Federal Reserve concluded that BSJI presented an undue risk of money laundering that couldn’t be …