YEREVAN, August 15. /ARKA/. 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, Reuters reports.
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.—0–
