Riggs Plea Aftermath: British Ops Sale and PNC Trouble
By Andrew Cochran
The effects of the guilty plea entered by Riggs Bank for violating the Bank Secrecy Act continue. The British branch of Israeli-based Bank Leumi is buying Rigg's UK assets and loan portfolio in London and the Jersey Isles for $37 million (free subscription needed for story). And the Pittsburgh media is no longer "ho-humming" the impact of the plea on PNC's potential purchase, as it did last week. We'll see.