BANK LEUMI SAID TO FACE $300 MILLION DEMAND IN TAX CASE

Benjamin Lawsky has changed the legal landscape for Bank Leumi Le-Israel, which would be the first Israeli bank to settle a tax probe with the U.S.

The Justice Department secured a guilty plea in May from Credit Suisse Group AG’s main bank subsidiary.

New York’s banking regulator will ask for more than $300 million to settle an investigation into whether Bank Leumi Le-Israel (LUMI) BM helped Americans evade taxes, a person familiar with the matter said.