Briefs: Union of Calif. to Support Banamex Trade

Union Bank of California agreed with Banco Nacional de Mexico, that country's largest bank, to handle cross-border money management in support of trade activities.

The agreement lets Union Bank, a subsidiary of Bank of Tokyo-Mitsubishi Ltd., handle wire transfers, U.S. currency deposits, and check processing for Banamex. In addition, the bank will provide check information reporting and positive-pay fraud detection services, further easing the risks of cross-border finance.