You're referring to the Edge Act [1][2] and that only applies to US banks' foreign operations (their subsidiaries, to be specific). It is still very much illeg

You're referring to the Edge Act [1][2] and that only applies to US banks' foreign operations (their subsidiaries, to be specific). It is still very much illegal for them to collude against US customers. [1] http://en.wikipedia.org/wiki/Edge_Act http://en.wikipedia.org/wiki/Edge_Act [2] http://www.answers.com/topic/edge-act-corporation http://www.answers.com/topic/edge-act-corporation