'Good Faith' Bank Immunity Row Won't Make It To High Court

Law360, New York (November 26, 2012, 5:45 PM EST) -- The U.S. Supreme Court on Monday declined to hear a challenge to the Louisiana Supreme Court's holding that a 1992 federal anti-money laundering statute requires banks to act in "good faith" in order to receive immunity from legal jeopardy after reporting suspicious activity to law enforcement.

The move means civil defendants Progressive Bancorp Inc. and CEO George W. Cummings III could face trial in Louisiana state court in a civil malicious prosecution case brought by plaintiff Joe Doughty, a bank president who the executive is alleged...
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