Hdeel Abdelhady Discussed the NYDFS Habib Bank Enforcement Action

MassPoint’sĀ Founder and Principal, Hdeel Abdelhady, discussed the legal significance and potential commercial implications of the NYDFS’ enforcement action against Habib Bank at a time of correspondent banking derisking. Ms. Abdelhady stated that: “at any time, the loss a New York banking license and direct access to the U.S. financial system would be devastating, but the potential implications of the lost license may be greater now given that U.S. banks have steadily exited or limited foreign correspondent relationships in recent years, leaving foreign banks cut off from or with limited or costly access to the U.S. dollar and financial system.” Read Ms. Abdelhady’s full comments here in this comprehensive piece, by… Read More

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