Standard Chartered in talks to settle Iran laundering probe
NEW YORK/LONDON (Reuters) – Standard Chartered Plc said on Monday it was in talks with New York’s banking regulator to try to settle allegations it hid transactions with Iran. The two sides have been negotiating ahead of a hearing set for Wednesday at which the bank must demonstrate why its state banking license should not be revoked over the transactions. Last week, state Financial Services Superintendent Benjamin Lawsky said the bank hid Iran-linked transactions with a total value of $250 billion. . . .
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