Cuban Travel, Banking Rules Eased Before Obama's Visit
New U.S. regulations have eased travel restrictions to Cuba and expanded Cuban nationals' access to U.S. financial institutions. Attorney Andy Fernandez explains that Cuban nationals will have the opportunity to maintain bank accounts in the U.S. to receive payment for authorized or exempt transactions, such as a book author receiving payments from a U.S. publisher.
“But the underlying activity has to be authorized by the Cuban Assets Control Regulations,” Mr. Fernandez said. “The sale of vintage cars by a Cuban national to someone here is not allowed.”