NY Fed can cut off Puerto Rican bank in Venezuela-related crackdown -US judge

A U.S. judge on Friday refused to block the Federal Reserve Bank of New York from terminating a Puerto Rican bank's access to the U.S. central banking system, as part of a crackdown on lenders with links to Venezuela. U.S. District Judge John Koeltl in Manhattan said Banco San Juan Internacional ("BSJI") failed to show it would suffer irreparable harm if he failed to issue a preliminary injunction. The bank sued in July to stop the New York Fed from terminating its "master account," which lets banks access the Fed's electronic payment system, over concerns it was not complying with U.S. sanctions and anti-money laundering rules.