After being placed under a federal consent order in 2014 for their anti-money laundering reporting processes, Coral Gables-based Gibraltar Private Bank and Trust announced Wednesday that the order has been lifted.
Shed Boren and Jose Valdes-Fauli, a longtime South Florida couple well-known for their philanthropy and activism in both the mainstream and LGBTQ communities, will be honored Feb. 11 at the Biltmore Hotel in Coral Gables by SAGE, a national organization that provides “services and advocacy for gay, lesbian, bisexual and transgender elders.”
Businessman Sonny Wright started a restaurant and real estate firm in Miami, paving the way to his role as the first black owner of a bank in the county. Along the way, he counted boxing champ Muhammad Ali and the Rev. Jesse Jackson as pals.
Michael McDonald, a 27-year veteran U.S. Treasury agent in Miami, specialized in money laundering and helped strengthen U.S. law to combat money laundering in banks. His efforts sent many drug traffickers from the Medellin Cartel to prison in the 1980s.
According to Coral Gables-based Bauer Financial, 75.5 percent of banks in Florida earned a “recommended” rating during the second quarter of 2016, up from 66.5 percent during the same period last year.