A bank that reports a customer's suspicious activity to the government is not violating financial privacy laws, a court ruled last week.

In a major victory for the industry, the U.S. District Court for the Western Division of Texas ruled that Marfa National Bank, Marfa, Tex., was simply complying with federal laws when it reported two depositors' suspected crime to the government.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.