Stonegate Bank Said to Agree to Handle Cuba Embassy Business

Stonegate Bank in Florida has agreed to handle financial transactions for the future Cuban embassy in Washington, people familiar with discussions on the issue said.

The State Department has worked to find a bank to handle embassy transactions, such as bill payments and visa processing, as part of President Barack Obama’s efforts to restore full diplomatic relations with Cuba.

Officials at the bank couldn’t immediately be reached by phone to discuss the agreement, which was disclosed by individuals aware of the agreement who asked not to be identified in advance of an announcement.