Bank Suspends Executives in U.S.: Italy’s Banca...

Bank Suspends Executives in U.S.: Italy’s Banca Nazionale del Lavoro, at the center of a storm over $3 billion in unauthorized loans to Iraq, has suspended nine U.S.-based executives and obtained emergency funding, bank officials said. State-owned BNL, Italy’s largest bank, has said responsibility for the Iraqi loans, which were not sanctioned by BNL senior management, rested entirely with its Atlanta branch, which arranged them. On Friday it announced that nine of the 20 executives at the branch had been suspended until inquiries were completed.