SCANDALS: Gone for Good -- or Is It?

SCANDALS: Gone for Good -- or Is It?

The Federal Reserve Board is pushing the scandal-tainted Bank of Credit & Commerce International -- or at least those parts it can find -- out of the U.S. Under Fed pressure, the Luxembourg-based bank, which pleaded guilty in 1990 to laundering millions in drug money, agreed last week to close its U.S. offices and give up its previously hidden interest in First American, a Washington-based bank holding company.

The move signals mounting troubles for First American's top officers, longtime Washington power broker Clark Clifford and his law partner Robert Altman. They have been telling bank regulators for the past decade that...

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