CIBanco Says Treasury Opioid Order Will Destroy Its Business (2)

The US Treasury Department unlawfully issued an anti-opioid trafficking order that will put CIBanco S.A., Institución De Banca Multiple out of business unless a court halts that order, the bank said.

The order, which will take effect Sept. 4, violates the Administrative Procedure Act and the due process clause in the Fifth Amendment, the bank told the US District Court for the District of Columbia in a Sunday complaint.

The government has imposed the “death penalty” on the bank with an order that lacks sufficient specificity to challenge the claims against it, the complaint says

A department spokesperson ...