Miami Banks Fear Loss of Int’l Clients

The sparkling glass towers rising above the Atlantic along Brickell Avenue have long been the place where Latin America’s wealthy parked their money during political crises and invested it when times were good. International banking leaders say that post-September 11 security regulations have scared off some clients with clean money who, despite their proximity and attraction to the U.S., are increasingly making deposits in Panama or even Luxembourg. And they say the cost of following the regulations is too great for many smaller banks.
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