I was curious if the LDS Church is associated with Zions Bank somehow. I've heard that it is.



Edited 2 time(s). Last edit at 07/23/2012 11:16AM by liminal state.

Thank you. Just wanted to know.

"Two federal agencies have slapped Zions Bank with multimillion-dollar civil penalties for failing to monitor suspicious wire transfers of billions of dollars related to transactions that may have involved drug trafficking and other crimes."

This was from the link that Heresy put up. Who wants to bet that no drug trafficking or terrorism was involved, and it was the church smuggling its own money?

Actually several other big banks were slapped with similar charges. I don't doubt it was drug money.

It was started by Brigham Young and was owned by the LDS church. I'm not sure how much they own, or are involved with it, today though.

I recall reading somewhere that First Security and Zion's bank tried to do an illegal merger that would result in some kind of monopoly, violating anti-trust laws.
The Federal Government agencies shut them down in a heart beat...that was about 10-15 years ago..

I guess one would need to google it.

When I was a ward and stake financial clerk back in the 80’s the checking accounts for the ward and the stake were drawn on Zion’s National Bank in Utah…..the ward and stake was located in Florida.



Edited 1 time(s). Last edit at 07/25/2012 06:45AM by davesnothere.