¤Washington designates the Lebanese Canadian Bank a "primary money laundering concern"

On 10 February 2011 the US Treasury designated the Lebanese Canadian Bank under Section 311 of the Patriot Act on the charge of laundering money for a network linked to Hezbollah; the bank collapsed within weeks, Société Générale took over most of its assets, and it later paid 102 million dollars in a settlement. The affair showed Washington's ability to end a Lebanese bank by administrative decision, and the central bank and the banks came to apply American compliance even where it went beyond Lebanese law.