Regulators ask Pak based Habib bank to shut ops in US

After nearly 40 years, US banking regulators ordered Pakistan's largest private Habib Bank to shutter its New York office. Habib has operated in the United States since 1978. New York regulators said that the bank failed to do enough to ensure that the funds were not laundered or used for terrorism. The state's Department of Financial Services (DFS), which regulates foreign banks, slapped a $225 million fine on the bank.