Standard Chartered Reaches $340 Million Settlement Over Iran -- Reuters
(Reuters) - Standard Chartered Plc will pay $340 million to New York's bank regulator over transactions linked to Iran, in a speedily arranged deal likely to cheer its shareholders.
The deal with New York Superintendent of Financial Services Benjamin Lawsky still left the British bank facing a separate probe of Iran-linked transactions by other U.S. authorities.
The deal on Tuesday capped a week of transatlantic tension and a furor over why a state agency had upstaged the other authorities.
The resolution also averted a hearing on Wednesday at which the bank had been called to demonstrate why its license to do business in New York should not be revoked.
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More News On Standard Chartered Reaching A Settlement With New York For Laundering Iranian Funds
British Bank in $340 Million Settlement for Laundering -- Wall Street Journal
Bank Settles Iran Money Case -- Wall Street Journal
Standard Chartered to pay $340 million to settle with N.Y. over Iran charges -- Washington Post
Bank settles Iran money probe in NY for $340M -- Bloomberg Businessweek/AP
N.Y. Settles Standard Chartered Probe For $340 Million -- Bloomberg
Standard Chartered pay $340m fine to New York bank regulator -- The Guardian
Standard Chartered to pay $340m settlement over Iran investigation -- The Telegraph
My Comment: This is outrageous. People should be going to jail for this, and Business Chartered should have it's US license canceled.
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